CIBC Asset Management Inc Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

CIBC Asset Management Inc lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,309 shares of the technology company’s stock after selling 500 shares during the period. CIBC Asset Management Inc owned about 0.14% of The Descartes Systems Group worth $12,376,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Intact Investment Management Inc. purchased a new position in The Descartes Systems Group during the 2nd quarter valued at $61,000. Blue Trust Inc. lifted its position in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the last quarter. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group during the second quarter valued at $77,000. Park Place Capital Corp grew its holdings in shares of The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after buying an additional 704 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 0.5 %

DSGX stock opened at $111.41 on Friday. The stock has a market capitalization of $9.52 billion, a PE ratio of 75.28 and a beta of 0.97. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24. The firm has a 50 day moving average of $104.91 and a 200 day moving average of $100.07.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DSGX shares. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Scotiabank increased their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $88.00 to $125.00 in a report on Friday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

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.