US Bancorp DE Reduces Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• US Bancorp DE has reduced its holdings in The Descartes Systems Group Inc. by 32.3%, now owning 11,991 shares worth approximately $1.22 million.
• Despite the reduction by US Bancorp, several other investors, including GAMMA Investing LLC and Parallel Advisors LLC, increased their stakes in The Descartes Systems Group during the same period.
• The company reported a disappointing EPS of $0.43, missing analysts’ estimates, but its revenue grew by 10% year-over-year to $178.98 million.

US Bancorp DE trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 32.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,991 shares of the technology company's stock after selling 5,734 shares during the quarter. US Bancorp DE's holdings in The Descartes Systems Group were worth $1,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock worth $63,000 after acquiring an additional 117 shares during the period. Wealth Alliance LLC lifted its stake in The Descartes Systems Group by 5.4% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock worth $232,000 after acquiring an additional 118 shares during the period. Parallel Advisors LLC lifted its stake in The Descartes Systems Group by 35.1% in the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock worth $59,000 after acquiring an additional 152 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in The Descartes Systems Group by 4.7% in the first quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company's stock worth $349,000 after acquiring an additional 154 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted its stake in The Descartes Systems Group by 0.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock worth $4,282,000 after acquiring an additional 155 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $95.15 on Friday. The company has a market capitalization of $8.18 billion, a PE ratio of 56.30 and a beta of 0.77. The company has a 50-day simple moving average of $99.35 and a two-hundred day simple moving average of $103.04. The Descartes Systems Group Inc. has a one year low of $91.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its 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 return on equity of 10.41% and a net margin of 21.64%.The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DSGX shares. TD Securities started coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They issued a "buy" rating and a $121.00 price objective for the company. TD Cowen reaffirmed a "buy" rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Morgan Stanley started coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus 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.

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