The Descartes Systems Group (NASDAQ:DSGX) Shares Gap Down on Analyst Downgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price 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.

A number of other analysts have also recently weighed in on DSGX. Stephens reduced their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada dropped their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday. Scotiabank upped 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. Finally, BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.33.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. boosted its position in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its stake in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 63.97 and a beta of 0.99. The business has a fifty day moving average of $114.83 and a 200 day moving average of $110.17.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.