The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG shares gapped down prior to trading on Thursday after CIBC lowered their price target on the stock from $128.00 to $127.00. The stock had previously closed at $110.92, but opened at $95.95. CIBC currently has an outperform rating on the stock. The Descartes Systems Group shares last traded at $102.52, with a volume of 187,115 shares traded.
Several other research firms have also weighed in on DSGX. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. 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 research note on Wednesday, December 4th. Royal Bank of Canada decreased their price objective on The Descartes Systems Group from $133.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday. TD Securities raised their price objective 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. Finally, Barclays decreased 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 research report on Thursday. Five analysts have rated the stock with 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, the stock has an average rating of "Moderate Buy" and an average target price of $120.33.
View Our Latest Research Report on DSGX
Hedge Funds Weigh In On The Descartes Systems Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. 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 purchasing an additional 2,800,492 shares during the last quarter. Norges Bank acquired a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $126,918,000. Arrowstreet Capital Limited Partnership boosted its position in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock valued at $71,911,000 after purchasing an additional 556,408 shares in the last quarter. Finally, Praesidium Investment Management Company LLC acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $54,724,000. 77.73% of the stock is currently owned by institutional investors.
The Descartes Systems Group Stock Down 4.0 %
The business has a fifty day moving average price of $114.29 and a 200 day moving average price of $110.25. The company has a market capitalization of $8.25 billion, a P/E ratio of 60.63 and a beta of 0.99.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
About The Descartes Systems Group
(
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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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