Royal Bank of Canada Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $130.00

The Descartes Systems Group (NASDAQ:DSGX - Free Report) TSE: DSG had its price target lowered by Royal Bank of Canada from $133.00 to $130.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the technology company's stock.

Several other equities analysts have also recently issued reports on DSGX. TD Securities raised their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. BMO Capital Markets raised their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Barclays reduced their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday. Scotiabank raised their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. Finally, Stephens reduced their target price on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.33.

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The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $1.29 during trading hours on Thursday, hitting $100.42. 879,590 shares of the company's stock were exchanged, compared to its average volume of 272,150. The stock's 50-day moving average is $114.29 and its 200-day moving average is $110.11. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 63.16 and a beta of 0.99. The Descartes Systems Group has a 52 week low of $87.20 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Equities research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its position in 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 valued at $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in The Descartes Systems Group by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company's stock valued at $1,758,000 after buying an additional 345 shares during the last quarter. Sone Capital Management LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at approximately $4,754,000. Squarepoint Ops LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at approximately $712,000. Finally, Two Sigma Investments LP raised its position in The Descartes Systems Group by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 171,713 shares of the technology company's stock valued at $19,507,000 after buying an additional 43,092 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

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.