3,184 Shares in The Descartes Systems Group Inc. $DSGX Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake in The Descartes Systems Group, purchasing 3,184 shares valued at approximately $319,000.
• Despite a recent net loss during their quarterly earnings report, the company reported a 10% year-over-year revenue increase with $178.98 million for the quarter.
• Wall Street analysts have mixed sentiments, with one analyst issuing a "Strong Buy" and several others portraying a consensus price target of $123.60 for the stock.

United Services Automobile Association acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,184 shares of the technology company's stock, valued at approximately $319,000.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of The Descartes Systems Group by 35.1% during the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company's stock worth $38,027,000 after purchasing an additional 98,054 shares during the period. Scientech Research LLC grew its stake in shares of The Descartes Systems Group by 39.0% during the first quarter. Scientech Research LLC now owns 8,129 shares of the technology company's stock worth $820,000 after purchasing an additional 2,280 shares during the period. Granahan Investment Management LLC grew its stake in shares of The Descartes Systems Group by 715.5% during the first quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock worth $38,213,000 after purchasing an additional 332,508 shares during the period. Royal Bank of Canada grew its stake in shares of The Descartes Systems Group by 22.1% during the first quarter. Royal Bank of Canada now owns 694,236 shares of the technology company's stock worth $70,001,000 after purchasing an additional 125,597 shares during the period. Finally, Vident Advisory LLC acquired a new stake in shares of The Descartes Systems Group during the first quarter worth $220,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DSGX has been the subject of a number of analyst reports. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Morgan Stanley started 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 for the company. Royal Bank Of Canada decreased their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Barclays decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $123.60.

The Descartes Systems Group Trading Up 2.1%

Shares of The Descartes Systems Group stock traded up $2.08 during trading on Thursday, reaching $102.08. The stock had a trading volume of 579,584 shares, compared to its average volume of 485,466. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 60.40 and a beta of 0.80. The stock has a fifty day moving average price of $102.75 and a two-hundred day moving average price of $103.72. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued 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 firm had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.