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

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

Several other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in shares of 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 buying an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after buying an additional 219,736 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of The Descartes Systems Group by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after buying an additional 102,208 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after buying an additional 72,501 shares during the last quarter. Finally, Canoe Financial LP purchased a new position in shares of The Descartes Systems Group during the fourth quarter worth about $7,939,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DSGX. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, Stephens upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Saturday, February 1st. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Trading Down 1.5 %

DSGX stock opened at $111.88 on Friday. The firm has a 50 day moving average of $115.68 and a 200-day moving average of $109.39. The Descartes Systems Group Inc. has a 12-month low of $84.83 and a 12-month high of $124.31. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 70.37 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company earned $0.31 EPS. Sell-side 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.