Chevy Chase Trust Holdings LLC Sells 4,650 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Chevy Chase Trust Holdings LLC decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 239,892 shares of the technology company's stock after selling 4,650 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.28% of The Descartes Systems Group worth $24,188,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in 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 valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after purchasing an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock worth $200,716,000 after purchasing an additional 101,290 shares during the last quarter. Franklin Resources Inc. raised its holdings in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after purchasing an additional 326,643 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after purchasing an additional 639,848 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded up $1.48 during mid-day trading on Thursday, reaching $102.08. The stock had a trading volume of 482,875 shares, compared to its average volume of 231,956. The firm has a market capitalization of $8.76 billion, a PE ratio of 61.49 and a beta of 0.87. The Descartes Systems Group Inc. has a fifty-two week low of $90.61 and a fifty-two week high of $124.31. The stock's 50-day simple moving average is $106.88 and its 200-day simple moving average is $109.14.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stephens lowered their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Royal Bank Of Canada dropped their price objective 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. CIBC cut their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Finally, Barclays dropped their price target 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. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.40.

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.