Chevy Chase Trust Holdings LLC Has $24.08 Million Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Chevy Chase Trust Holdings LLC has reduced its stake in The Descartes Systems Group by 1.3%, retaining approximately 236,892 shares worth about $24.08 million as of their latest SEC filing.
• The Descartes Systems Group reported a quarterly EPS of $0.43, missing analysts' expectations of $0.49, while its revenue increased by 10% year-over-year to $178.98 million.
• Wall Street analysts have a mixed outlook on the stock, with an average rating of "Moderate Buy" and a consensus price target of $121.80, indicating potential room for growth.

Chevy Chase Trust Holdings LLC lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 236,892 shares of the technology company's stock after selling 3,000 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.28% of The Descartes Systems Group worth $24,079,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DSGX. Cullen Frost Bankers Inc. acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $49,000. Parallel Advisors LLC boosted its stake in The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after purchasing an additional 152 shares during the last quarter. GAMMA Investing LLC boosted its stake in The Descartes Systems Group by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock valued at $63,000 after purchasing an additional 117 shares during the last quarter. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $141,000. Finally, Hilltop National Bank acquired a new position in The Descartes Systems Group during the 2nd quarter valued at about $215,000. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 1.2%

NASDAQ:DSGX opened at $96.28 on Friday. The stock has a market capitalization of $8.27 billion, a PE ratio of 56.97 and a beta of 0.77. The firm's 50 day moving average is $99.25 and its 200 day moving average is $103.00. The Descartes Systems Group Inc. has a 12 month low of $91.00 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DSGX shares. TD Securities began coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They set a "buy" rating and a $121.00 price target for the company. Morgan Stanley began coverage on The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock. Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. TD Cowen restated a "buy" rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Finally, Zacks Research upgraded The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus price target of $121.80.

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.

Want to see what other hedge funds are holding DSGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.