The Descartes Systems Group (NASDAQ:DSGX) Given New $113.00 Price Target at BMO Capital Markets

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target decreased by BMO Capital Markets from $120.00 to $113.00 in a report published on Thursday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the technology company’s stock.

A number of other equities analysts have also weighed in on DSGX. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens decreased their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada decreased their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays decreased their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.33.

The Descartes Systems Group Stock Down 8.3 %

NASDAQ:DSGX opened at $101.71 on Thursday. The business’s 50-day moving average price is $114.83 and its 200 day moving average price is $110.17. The firm has a market cap of $8.71 billion, a P/E ratio of 63.97 and a beta of 0.99. The Descartes Systems Group has a 52-week low of $87.20 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results 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 firm 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%. Sell-side analysts expect that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its holdings in shares of The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after buying an additional 2,250 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $2,308,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Descartes Systems Group by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after buying an additional 9,768 shares during the last quarter. Barclays PLC raised its stake in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after acquiring an additional 270 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of The Descartes Systems Group in the 4th quarter valued at approximately $7,939,000. 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.