The Descartes Systems Group (NASDAQ:DSGX) Price Target Cut to $125.00 by Analysts at Stephens

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lowered by Stephens from $137.00 to $125.00 in a report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Scotiabank raised their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. BMO Capital Markets decreased their price objective 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, March 6th. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Loop Capital started coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.50.

The Descartes Systems Group Trading Up 1.0 %

Shares of NASDAQ:DSGX opened at $101.74 on Wednesday. The company has a 50 day moving average of $106.38 and a 200 day moving average of $110.19. The stock has a market cap of $8.71 billion, a P/E ratio of 63.99 and a beta of 0.97. The Descartes Systems Group has a 12 month low of $87.20 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share 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 firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. On average, equities analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after buying an additional 108 shares during the period. GeoWealth Management LLC boosted its holdings in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after acquiring an additional 132 shares during the period. Shell Asset Management Co. grew its position in The Descartes Systems Group by 1.8% during the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company’s stock worth $1,104,000 after acquiring an additional 172 shares during the last quarter. Mather Group LLC. increased its stake in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Finally, Allworth Financial LP lifted its position in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after purchasing an additional 182 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.