PNC Financial Services Group Inc. Sells 398 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

PNC Financial Services Group Inc. lowered its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,035 shares of the technology company’s stock after selling 398 shares during the period. PNC Financial Services Group Inc.’s holdings in The Descartes Systems Group were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Intact Investment Management Inc. acquired a new stake in shares of The Descartes Systems Group during the second quarter worth $61,000. Blue Trust Inc. boosted its holdings in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $77,000. Park Place Capital Corp increased its holdings in shares of The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after buying an additional 704 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $116.27 on Friday. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.95. The firm has a market cap of $9.94 billion, a PE ratio of 78.56 and a beta of 0.97. The firm’s fifty day moving average is $107.64 and its 200-day moving average is $101.12.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. BMO Capital Markets upped their target price 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. StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Scotiabank lifted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.25.

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.