BMO Capital Markets Has Lowered Expectations for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective lowered by stock analysts at BMO Capital Markets from $120.00 to $113.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 12.53% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens reduced their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday. Loop Capital began coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price on the stock. 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 on the stock in a research report on Thursday. Finally, TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Stock Down 1.3 %

NASDAQ:DSGX opened at $100.42 on Thursday. The company has a fifty day moving average of $114.57 and a 200 day moving average of $110.11. The Descartes Systems Group has a 52 week low of $87.20 and a 52 week high of $124.31. The firm has a market capitalization of $8.60 billion, a P/E ratio of 63.16 and a beta of 0.99.

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

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its stake in 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 period. Vanguard Group Inc. lifted its stake in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after acquiring an additional 54,341 shares during the period. Fiera Capital Corp lifted its stake in The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Finally, Franklin Resources Inc. lifted its stake in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Institutional investors 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.