Chevy Chase Trust Holdings LLC Sells 1,234 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Chevy Chase Trust Holdings LLC lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,947 shares of the technology company’s stock after selling 1,234 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.29% of The Descartes Systems Group worth $25,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Intact Investment Management Inc. purchased a new position in The Descartes Systems Group in the 2nd quarter worth about $61,000. Blue Trust Inc. raised its holdings in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the last quarter. Andra AP fonden bought a new position in The Descartes Systems Group during the second quarter valued at approximately $77,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in The Descartes Systems Group by 28.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after purchasing an additional 279 shares during the period. 77.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Finally, Scotiabank upped their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $110.75.

The Descartes Systems Group Stock Up 0.0 %

Shares of The Descartes Systems Group stock opened at $116.02 on Wednesday. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $118.49. The stock’s 50-day simple moving average is $108.71 and its 200-day simple moving average is $101.68. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 78.39 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

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.