CIBC Private Wealth Group LLC Has $310,000 Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

CIBC Private Wealth Group LLC raised its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 35.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,739 shares of the technology company’s stock after acquiring an additional 717 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in The Descartes Systems Group were worth $310,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 worth $375,047,000 after purchasing an additional 54,341 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of The Descartes Systems Group by 3.1% in the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after acquiring an additional 40,807 shares during the period. Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Norges Bank bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $126,918,000. Finally, TD Asset Management Inc. boosted its stake in shares of The Descartes Systems Group by 3.2% in the 4th quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company’s stock valued at $102,224,000 after purchasing an additional 28,204 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 4.8 %

DSGX stock opened at $95.84 on Friday. The stock’s 50 day moving average is $108.55 and its 200-day moving average is $110.33. The firm has a market capitalization of $8.20 billion, a PE ratio of 60.28 and a beta of 0.99. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DSGX. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. Barclays cut their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. CIBC dropped their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Finally, BMO Capital Markets dropped 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, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $120.50.

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.