BMO Capital Markets Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $113.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price cut by equities research analysts at BMO Capital Markets from $120.00 to $113.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 14.00% from the company’s current price.

A number of other brokerages have also recently commented on DSGX. Barclays lowered 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 report on Thursday. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Scotiabank lifted 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 note on Wednesday, December 4th. Royal Bank of Canada reduced their target price on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Finally, TD Securities boosted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.75.

The Descartes Systems Group Stock Down 10.6 %

Shares of DSGX traded down $11.80 during mid-day trading on Thursday, hitting $99.12. 328,845 shares of the company traded hands, compared to its average volume of 232,774. The company has a market capitalization of $8.49 billion, a PE ratio of 62.27 and a beta of 0.99. The business has a 50 day moving average of $114.83 and a 200 day moving average of $110.17. The Descartes Systems Group has a 1-year low of $87.20 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. As a group, research analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently added to or reduced their stakes in DSGX. Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after purchasing an additional 19,817 shares during the period. Assetmark Inc. grew its stake in shares of The Descartes Systems Group by 3.5% in the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after buying an additional 197 shares during the period. Versor Investments LP purchased a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $278,000. Aigen Investment Management LP purchased a new position in The Descartes Systems Group in the third quarter worth approximately $276,000. Finally, Cumberland Partners Ltd increased its stake in The Descartes Systems Group by 3.7% during the third quarter. Cumberland Partners Ltd now owns 85,903 shares of the technology company’s stock worth $8,849,000 after acquiring an additional 3,065 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.