Charles Schwab Investment Management Inc. Reduces 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. lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of The Descartes Systems Group by 9,983.0% in the 1st quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock worth $5,134,000 after buying an additional 50,414 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of The Descartes Systems Group by 2.7% in the 1st 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 during the last quarter. Northern Trust Corp grew its stake in shares of 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 worth $9,172,000 after buying an additional 8,537 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of 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 worth $2,321,000 after buying an additional 1,646 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DSGX shares. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays cut 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 research note on Thursday, June 5th. Royal Bank Of Canada cut their target price 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 research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Trading Up 0.3%

DSGX traded up $0.30 during trading on Thursday, hitting $100.00. 324,938 shares of the company's stock traded hands, compared to its average volume of 467,208. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 60.24 and a beta of 0.81. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The company's 50 day simple moving average is $102.37 and its two-hundred day simple moving average is $104.78.

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

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.