Principal Financial Group Inc. Increases Stock Holdings in The Descartes Systems Group Inc. $DSGX

Principal Financial Group Inc. boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 67.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 465,403 shares of the technology company’s stock after buying an additional 186,780 shares during the quarter. Principal Financial Group Inc.’s holdings in The Descartes Systems Group were worth $33,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Vanguard Group Inc. boosted its holdings in The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after acquiring an additional 69,260 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after purchasing an additional 56,069 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of The Descartes Systems Group by 9.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,473,531 shares of the technology company’s stock valued at $216,952,000 after purchasing an additional 203,614 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after purchasing an additional 743,104 shares in the last quarter. Finally, Morgan Stanley boosted its stake in The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock worth $138,888,000 after purchasing an additional 780,857 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $74.16 on Monday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The business’s 50 day moving average price is $71.51 and its 200 day moving average price is $72.91. The firm has a market cap of $6.35 billion, a P/E ratio of 37.08 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period last year, the firm posted $0.41 EPS. The Descartes Systems Group’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the topic of a number of recent analyst reports. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of The Descartes Systems Group in a report on Tuesday, July 7th. Canadian Imperial Bank of Commerce upped their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Finally, Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.54.

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.