The Descartes Systems Group (NASDAQ:DSGX) Price Target Cut to $113.00 by Analysts at BMO Capital Markets

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective lowered by equities researchers at BMO Capital Markets from $120.00 to $113.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 14.00% from the company’s previous close.

Several other equities research analysts have also recently issued reports on DSGX. Stephens decreased their price objective on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays dropped 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. TD Securities boosted their target price on 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. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.75.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $11.80 during trading on Thursday, reaching $99.12. The company’s stock had a trading volume of 328,845 shares, compared to its average volume of 232,774. The Descartes Systems Group has a 1-year low of $87.20 and a 1-year high of $124.31. The stock’s 50-day moving average price is $114.83 and its 200 day moving average price is $110.17. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 62.27 and a beta of 0.99.

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

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its position 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 worth $561,827,000 after acquiring an additional 2,800,492 shares during the period. Vanguard Group Inc. raised its stake in shares of The Descartes Systems Group by 1.7% during the fourth 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. Fiera Capital Corp lifted its holdings in shares of The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after purchasing an additional 19,817 shares during the period. T. Rowe Price Investment Management Inc. grew its position in The Descartes Systems Group by 6.1% in 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 buying an additional 101,290 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after buying an additional 326,643 shares during the period. Hedge funds and other 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.