US Bancorp DE Sells 1,535 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

US Bancorp DE cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,504 shares of the technology company’s stock after selling 1,535 shares during the quarter. US Bancorp DE’s holdings in The Descartes Systems Group were worth $2,420,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DSGX. Whittier Trust Co. boosted its position in The Descartes Systems Group by 38.5% in the first quarter. Whittier Trust Co. now owns 7,721 shares of the technology company’s stock valued at $707,000 after buying an additional 2,146 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after acquiring an additional 429 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in The Descartes Systems Group during the 1st quarter worth approximately $28,000. Mediolanum International Funds Ltd acquired a new stake in The Descartes Systems Group during the 1st quarter valued at $1,388,000. Finally, FDx Advisors Inc. bought a new position in The Descartes Systems Group in the 1st quarter valued at $227,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.4 %

Shares of DSGX opened at $107.75 on Wednesday. The stock has a market cap of $9.21 billion, a P/E ratio of 72.80 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $72.87 and a 1 year high of $108.77. The stock’s 50-day moving average price is $102.48 and its two-hundred day moving average price is $98.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data 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 firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on DSGX shares. Barclays raised their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.17.

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.