The Descartes Systems Group (NASDAQ:DSGX) Shares Gap Down After 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 changing hands.

Other research analysts have also issued reports about the company. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays dropped their price objective on shares of 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. 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 on the stock in a research report on Thursday. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price objective 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

Institutional Trading of The Descartes Systems Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. lifted its position in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of The Descartes Systems Group by 63.2% during the fourth 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. acquired a new position in shares of The Descartes Systems Group during the fourth quarter worth approximately $43,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC increased its holdings in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

The firm’s 50-day moving average is $114.57 and its two-hundred day moving average is $110.11. The stock has a market cap 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 results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to analyst estimates 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, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.