Primecap Management Co. CA Has $111.49 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Primecap Management Co. CA lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,183,140 shares of the technology company’s stock after selling 307,013 shares during the period. Primecap Management Co. CA owned about 1.38% of The Descartes Systems Group worth $111,487,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DSGX. Ritholtz Wealth Management raised its stake in shares of The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock worth $627,000 after purchasing an additional 114 shares in the last quarter. AXA S.A. increased its holdings in The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares during the last quarter. Versant Capital Management Inc raised its position in The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after acquiring an additional 131 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after acquiring an additional 143 shares in the last quarter. Finally, Wealth Alliance LLC lifted its stake in The Descartes Systems Group by 7.1% in the second quarter. Wealth Alliance LLC now owns 2,461 shares of the technology company’s stock valued at $250,000 after acquiring an additional 164 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Trading Up 4.9%

The Descartes Systems Group stock opened at $67.81 on Friday. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 38.31 and a beta of 0.75. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The stock’s 50 day moving average is $78.33 and its 200-day moving average is $88.40.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period in the previous year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.