PNC Financial Services Group Inc. Sells 996 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

PNC Financial Services Group Inc. lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,039 shares of the technology company’s stock after selling 996 shares during the period. PNC Financial Services Group Inc.’s holdings in The Descartes Systems Group were worth $913,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DSGX. Mather Group LLC. lifted its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $54,000. GAMMA Investing LLC raised its stake in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after purchasing an additional 495 shares during the period. Finally, Allworth Financial LP grew its position in The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

DSGX opened at $100.21 on Tuesday. The firm has a market capitalization of $8.58 billion, a P/E ratio of 63.03 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31. The company has a fifty day moving average price of $112.73 and a 200-day moving average price of $110.18.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of research reports. Loop Capital started coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Barclays dropped their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. CIBC decreased their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Royal Bank of Canada dropped their price objective on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Company 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.