CIBC Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $127.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective reduced by CIBC from $128.00 to $127.00 in a report issued on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts also recently issued reports on DSGX. Barclays cut their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday. TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens dropped their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Scotiabank lifted their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Down 8.3 %

NASDAQ:DSGX opened at $101.71 on Thursday. The company has a market capitalization of $8.71 billion, a PE ratio of 63.97 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 stock has a fifty day simple moving average of $114.83 and a 200-day simple moving average of $110.17.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate 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 anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Norges Bank acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $126,918,000. Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% during the 4th 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 increased its position in 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 worth $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. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.