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

CIBC Asset Management Inc decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,220 shares of the technology company’s stock after selling 3,089 shares during the period. CIBC Asset Management Inc’s holdings in The Descartes Systems Group were worth $13,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in DSGX. Jane Street Group LLC boosted its holdings in shares of The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after buying an additional 2,250 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of The Descartes Systems Group in the third quarter worth approximately $2,308,000. Massachusetts Financial Services Co. MA lifted its position in shares of The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after purchasing an additional 9,768 shares in the last quarter. Barclays PLC lifted its position in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after purchasing an additional 270 shares in the last quarter. Finally, Canoe Financial LP purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth approximately $7,939,000. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the subject of a number of research analyst reports. Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Saturday, February 1st. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, Scotiabank raised their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Stock Down 1.4 %

NASDAQ:DSGX opened at $114.87 on Wednesday. The Descartes Systems Group Inc. has a 12 month low of $84.12 and a 12 month high of $124.31. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 72.25 and a beta of 0.99. The company’s 50 day moving average is $116.19 and its 200-day moving average is $108.96.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 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. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.