CIBC Asset Management Inc cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,220 shares of the technology company's stock after selling 3,089 shares during the period. CIBC Asset Management Inc owned approximately 0.14% of The Descartes Systems Group worth $13,242,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its position in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $54,000. GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares during the period. Allworth Financial LP boosted its holdings in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after purchasing an additional 182 shares during the period. Finally, Blue Trust Inc. boosted its holdings in The Descartes Systems Group by 931.7% in 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 period. 77.73% of the stock is currently owned by institutional investors and hedge funds.
The Descartes Systems Group Stock Performance
DSGX stock traded down $1.69 on Friday, reaching $111.88. The company had a trading volume of 213,446 shares, compared to its average volume of 227,837. The Descartes Systems Group Inc. has a 1 year low of $84.83 and a 1 year high of $124.31. The company has a market cap of $9.58 billion, a P/E ratio of 70.37 and a beta of 0.99. The company's fifty day moving average is $115.84 and its 200 day moving average is $109.16.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the previous year, the business posted $0.31 EPS. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
DSGX has been the subject of a number of recent research reports. Royal Bank of Canada lifted their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a report on Friday, November 29th. Barclays raised The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Scotiabank boosted their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. Finally, Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 target price for the company. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average target price of $117.92.
View Our Latest Report on The Descartes Systems Group
About The Descartes Systems Group
(
Free Report)
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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