Chevy Chase Trust Holdings LLC Sells 3,000 Shares of The Descartes Systems Group Inc. $DSGX

Chevy Chase Trust Holdings LLC decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,892 shares of the technology company’s stock after selling 3,000 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in The Descartes Systems Group were worth $24,079,000 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 bought and sold shares of the business. Ritholtz Wealth Management raised its holdings in The Descartes Systems Group by 1.9% during the 2nd quarter. Ritholtz Wealth Management now owns 6,540 shares of the technology company’s stock valued at $665,000 after acquiring an additional 125 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its holdings in The Descartes Systems Group by 20.8% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 148,552 shares of the technology company’s stock valued at $15,024,000 after acquiring an additional 25,588 shares during the period. TD Asset Management Inc raised its holdings in The Descartes Systems Group by 8.2% during the 2nd quarter. TD Asset Management Inc now owns 989,224 shares of the technology company’s stock valued at $100,333,000 after acquiring an additional 75,358 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in The Descartes Systems Group by 176.5% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 117,600 shares of the technology company’s stock valued at $11,922,000 after acquiring an additional 75,061 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of The Descartes Systems Group by 60.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,692 shares of the technology company’s stock worth $1,392,000 after purchasing an additional 5,184 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DSGX shares. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. TD Securities initiated coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They set a “buy” rating and a $121.00 price target for the company. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Morgan Stanley started coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an “equal weight” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.80.

The Descartes Systems Group Price Performance

DSGX stock opened at $96.28 on Friday. The Descartes Systems Group Inc. has a 1 year low of $91.00 and a 1 year high of $124.31. The company has a market cap of $8.27 billion, a P/E ratio of 56.97 and a beta of 0.77. The firm has a 50-day moving average of $99.25 and a 200 day moving average of $103.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (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 previous year, the company earned $0.40 earnings per share. The Descartes Systems Group’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.