The Descartes Systems Group (NASDAQ:DSGX) Price Target Cut to $137.00 by Analysts at Stephens

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective dropped by analysts at Stephens from $145.00 to $137.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Stephens’ price objective points to a potential upside of 33.56% from the company’s previous close.

Other analysts also recently issued research reports about the company. Barclays cut their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock 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. BMO Capital Markets boosted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Finally, 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 report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

The Descartes Systems Group Stock Down 7.5 %

DSGX stock opened at $102.58 on Thursday. The company has a market capitalization of $8.78 billion, a P/E ratio of 64.97 and a beta of 0.99. The company has a 50-day simple moving average of $114.83 and a 200 day simple moving average of $110.17. The Descartes Systems Group has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

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 for the quarter, meeting 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 company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. Equities analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DSGX. Fiera Capital Corp raised its holdings in The Descartes Systems Group by 0.8% in the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after acquiring an additional 19,817 shares during the period. Assetmark Inc. raised its holdings in The Descartes Systems Group by 3.5% in the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after acquiring an additional 197 shares during the period. Versor Investments LP bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $278,000. Aigen Investment Management LP bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $276,000. Finally, Cumberland Partners Ltd increased its holdings in shares of The Descartes Systems Group by 3.7% during the 3rd quarter. Cumberland Partners Ltd now owns 85,903 shares of the technology company’s stock worth $8,849,000 after purchasing an additional 3,065 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.