US Bancorp DE Has $1.79 Million Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• US Bancorp DE reduced its stake in The Descartes Systems Group by 19.8%, holding 17,725 shares worth approximately $1.79 million as of the latest filing.
• Analysts have a consensus rating of "Moderate Buy" for The Descartes Systems Group, with an average target price of $122.18, despite several downgrades from various firms.
• The company's stock recently declined by 1.2%, trading at $101.23, following disappointing quarterly earnings that missed estimates by $0.05.

US Bancorp DE trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 19.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,725 shares of the technology company's stock after selling 4,368 shares during the period. US Bancorp DE's holdings in The Descartes Systems Group were worth $1,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in shares of 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 worth $561,827,000 after acquiring an additional 2,800,492 shares during the period. Fiera Capital Corp lifted its stake in shares of The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of The Descartes Systems Group by 6.1% in 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 acquiring an additional 101,290 shares during the period. TD Asset Management Inc lifted its stake in shares of The Descartes Systems Group by 1.6% in the 1st quarter. TD Asset Management Inc now owns 913,866 shares of the technology company's stock worth $92,014,000 after acquiring an additional 14,104 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of The Descartes Systems Group by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 635,722 shares of the technology company's stock worth $72,228,000 after acquiring an additional 3,554 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 0.1%

DSGX stock traded down $0.11 on Tuesday, hitting $99.18. 81,271 shares of the company's stock traded hands, compared to its average volume of 332,587. The Descartes Systems Group Inc. has a 1-year low of $92.00 and a 1-year high of $124.31. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 59.83 and a beta of 0.81. The stock has a fifty day moving average of $103.18 and a 200-day moving average of $106.29.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays reduced their price target on shares of 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. Royal Bank Of Canada reduced their price target on shares of 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. Finally, Morgan Stanley assumed 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 target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $122.18.

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.