Primecap Management Co. CA Decreases Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Primecap Management Co. CA cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,917,553 shares of the technology company's stock after selling 196,828 shares during the period. Primecap Management Co. CA owned approximately 2.24% of The Descartes Systems Group worth $217,834,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DSGX. Mather Group LLC. raised its position in shares of The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Trust Co. of Vermont bought a new stake in The Descartes Systems Group during the fourth quarter worth $54,000. GAMMA Investing LLC boosted its holdings in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after purchasing an additional 182 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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The Descartes Systems Group Stock Up 1.1 %

NASDAQ DSGX traded up $1.12 on Friday, reaching $101.15. The company had a trading volume of 281,506 shares, compared to its average volume of 190,120. The stock has a market capitalization of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99. The company's fifty day moving average is $111.67 and its 200 day moving average is $110.03. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DSGX shares. BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Stephens lowered their price target on shares of The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price target for the company. Scotiabank boosted their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.33.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.