Chevy Chase Trust Holdings LLC Reduces Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Chevy Chase Trust Holdings LLC cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 239,892 shares of the technology company's stock after selling 4,650 shares during the period. Chevy Chase Trust Holdings LLC owned 0.28% of The Descartes Systems Group worth $24,188,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DSGX. Mackenzie Financial Corp increased its stake in shares of 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 valued at $561,827,000 after buying an additional 2,800,492 shares during the period. Norges Bank purchased a new stake in The Descartes Systems Group in the fourth quarter worth $126,918,000. Arrowstreet Capital Limited Partnership grew its stake in The Descartes Systems Group by 114.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares during the period. Praesidium Investment Management Company LLC purchased a new stake in The Descartes Systems Group in the fourth quarter worth $54,724,000. Finally, Franklin Resources Inc. grew its stake in The Descartes Systems Group by 23.9% in the fourth 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 period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DSGX shares. Royal Bank Of Canada reduced 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. Stephens reduced their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. CIBC reduced their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets reduced their price target 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. Finally, Scotiabank upped their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $123.40.

The Descartes Systems Group Stock Down 0.6%

Shares of NASDAQ DSGX traded down $0.64 during trading on Friday, reaching $101.44. The company had a trading volume of 646,148 shares, compared to its average volume of 234,444. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31. The stock has a market cap of $8.70 billion, a PE ratio of 61.11 and a beta of 0.87. The business's 50-day moving average is $106.86 and its 200 day moving average is $108.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $169.60 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company's revenue was up 11.5% on a year-over-year basis. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.