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

Key Points

• Primecap Management Co. CA decreased its stake in The Descartes Systems Group by 6.8%, now holding approximately 1,787,352 shares valued at $180.2 million.
• Recent analyst reports have revised the price targets for DSGX, with Royal Bank of Canada and Barclays lowering their targets, while Morgan Stanley initiated coverage with a $110 target.
• The Descartes Systems Group reported earnings of $0.41 per share for the last quarter, falling short of analysts' expectations of $0.46, despite a year-over-year revenue increase of 11.5%.

Primecap Management Co. CA cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,787,352 shares of the technology company's stock after selling 130,201 shares during the period. Primecap Management Co. CA owned 2.09% of The Descartes Systems Group worth $180,219,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of The Descartes Systems Group during the 1st quarter valued at $25,000. GeoWealth Management LLC grew its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of The Descartes Systems Group during the 1st quarter valued at $49,000. Optiver Holding B.V. purchased a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $66,000. Finally, Johnson Financial Group Inc. grew its stake in shares of The Descartes Systems Group by 830.9% during the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after buying an additional 781 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 1.2%

Shares of DSGX traded down $1.23 during midday trading on Friday, hitting $101.23. The company had a trading volume of 235,352 shares, compared to its average volume of 387,164. The company's 50 day moving average price is $103.48 and its 200 day moving average price is $106.52. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 60.98 and a beta of 0.81. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DSGX shares. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Morgan Stanley started coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Barclays reduced their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Company 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.