The Descartes Systems Group Inc. (NASDAQ:DSGX) Position Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.6% during the fourth quarter, according to its most recent filing 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 quarter. CIBC Asset Management Inc owned approximately 0.14% of The Descartes Systems Group worth $13,242,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC boosted its stake in The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after acquiring an additional 52,485 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after purchasing an additional 19,817 shares during the period. Geneva Capital Management LLC raised its holdings in shares of The Descartes Systems Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares during the period. Franklin Resources Inc. raised its holdings in shares of The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after purchasing an additional 40,807 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DSGX shares. Loop Capital started coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Royal Bank of Canada increased their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Stock Down 1.4 %

Shares of DSGX opened at $114.87 on Wednesday. The firm has a 50-day moving average price of $116.19 and a 200 day moving average price of $108.96. The firm has a market capitalization of $9.83 billion, a PE ratio of 72.25 and a beta of 0.99. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group 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.