Charles Schwab Investment Management Inc. Has $16.76 Million Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in The Descartes Systems Group Inc. by 3.3%, selling 5,635 shares, and now owns approximately 166,509 shares worth about $16.76 million.
• Institutional investors collectively hold 77.73% of the company's stock, with Vanguard Group Inc. and Scotia Capital Inc. among those increasing their positions during the first quarter.
• The Descartes Systems Group reported earnings of $0.41 per share for the last quarter, missing estimates, while its revenue of $168.74 million showed an 11.5% year-over-year increase.

Charles Schwab Investment Management Inc. lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,509 shares of the technology company's stock after selling 5,635 shares during the period. Charles Schwab Investment Management Inc. owned 0.19% of The Descartes Systems Group worth $16,760,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 9,983.0% during the 1st quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock worth $5,134,000 after purchasing an additional 50,414 shares in the last quarter. Mackenzie Financial Corp lifted its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. Bank of New York Mellon Corp grew its stake in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock worth $12,940,000 after buying an additional 3,316 shares in the last quarter. Northern Trust Corp increased its holdings in The Descartes Systems Group by 11.8% in the 4th quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock valued at $9,172,000 after buying an additional 8,537 shares during the period. Finally, LPL Financial LLC increased its holdings in The Descartes Systems Group by 7.7% in the 1st quarter. LPL Financial LLC now owns 23,021 shares of the technology company's stock valued at $2,321,000 after buying an additional 1,646 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Royal Bank Of Canada decreased their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Morgan Stanley started coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $2.08 during trading on Monday, hitting $99.29. The company's stock had a trading volume of 279,288 shares, compared to its average volume of 445,788. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 61.07 and a beta of 0.81. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31. The stock has a 50-day moving average price of $102.35 and a two-hundred day moving average price of $105.02.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The company had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.