United Services Automobile Association Takes $319,000 Position in The Descartes Systems Group Inc. $DSGX

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 purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,184 shares of the technology company's stock, valued at approximately $319,000.

A number of other institutional investors also recently made changes to their positions in DSGX. American Century Companies Inc. lifted its stake in The Descartes Systems Group by 5.9% in the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company's stock worth $22,543,000 after purchasing an additional 12,571 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $5,134,000 after acquiring an additional 50,414 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 130.4% during 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. Bank of New York Mellon Corp boosted its holdings in The Descartes Systems Group by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock valued at $12,940,000 after acquiring an additional 3,316 shares during the period. Finally, Northern Trust Corp grew its position in The Descartes Systems Group by 11.8% during the 4th quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock worth $9,172,000 after acquiring an additional 8,537 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 1.7%

Shares of NASDAQ DSGX traded down $1.74 on Monday, reaching $102.56. 402,636 shares of the company's stock traded hands, compared to its average volume of 468,280. The business's 50 day simple moving average is $102.86 and its two-hundred day simple moving average is $103.81. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 60.69 and a beta of 0.80.

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 Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Barclays cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Morgan Stanley started coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. One research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.60.

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.