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

Principal Financial Group Inc. trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 226,073 shares of the technology company’s stock after selling 44,760 shares during the period. Principal Financial Group Inc. owned approximately 0.26% of The Descartes Systems Group worth $25,685,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC lifted its stake in The Descartes Systems Group by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after purchasing an additional 52,485 shares in the last quarter. Fiera Capital Corp lifted its stake in The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after purchasing an additional 19,817 shares in the last quarter. Geneva Capital Management LLC lifted its stake in The Descartes Systems Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares in the last quarter. Franklin Resources Inc. lifted its stake in The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after purchasing an additional 40,807 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DSGX has been the topic of a number of research reports. Loop Capital initiated coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. TD Securities upped their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Scotiabank increased their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $111.88 on Friday. The firm has a market capitalization of $9.58 billion, a PE ratio of 70.37 and a beta of 0.99. The business’s fifty day moving average price is $115.68 and its 200 day moving average price is $109.39. The Descartes Systems Group Inc. has a 12 month low of $84.83 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.