The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,173 shares of the technology company's stock after selling 10,900 shares during the period. Principal Financial Group Inc. owned about 0.25% of The Descartes Systems Group worth $21,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock worth $375,047,000 after purchasing an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock worth $200,716,000 after purchasing an additional 101,290 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after purchasing an additional 326,643 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays lowered their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. Royal Bank Of Canada lowered their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Stephens lowered their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Scotiabank boosted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.40.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded down $3.34 on Friday, reaching $101.07. The company's stock had a trading volume of 639,737 shares, compared to its average volume of 248,761. The stock's 50-day moving average is $106.46 and its two-hundred day moving average is $107.76. The Descartes Systems Group Inc. has a 52-week low of $90.61 and a 52-week high of $124.31. The stock has a market capitalization of $8.67 billion, a P/E ratio of 60.89 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.