Principal Financial Group Inc. Reduces Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Principal Financial Group Inc. cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,833 shares of the technology company’s stock after selling 3,270 shares during the quarter. Principal Financial Group Inc. owned 0.32% of The Descartes Systems Group worth $27,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after acquiring an additional 278,796 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in The Descartes Systems Group by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the period. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares during the period. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after buying an additional 81,263 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after acquiring an additional 91,301 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays lifted their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Finally, BMO Capital Markets upped their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $115.17 on Wednesday. The Descartes Systems Group Inc. has a 1-year low of $76.96 and a 1-year high of $116.73. The business has a fifty day moving average price of $103.90 and a 200-day moving average price of $99.70. The company has a market capitalization of $9.84 billion, a PE ratio of 77.82 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The Descartes Systems Group’s revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

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.