The Descartes Systems Group (NASDAQ:DSGX) Given New $130.00 Price Target at Royal Bank of Canada

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target dropped by stock analysts at Royal Bank of Canada from $133.00 to $130.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 27.92% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Stephens reduced their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective on the stock. TD Securities lifted their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays dropped their target price 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, BMO Capital Markets raised their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Five 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.33.

The Descartes Systems Group Stock Down 8.4 %

DSGX traded down $9.30 during trading on Thursday, hitting $101.62. The company’s stock had a trading volume of 222,111 shares, compared to its average volume of 230,429. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 63.91 and a beta of 0.99. The firm’s 50 day moving average price is $114.83 and its two-hundred day moving average price is $110.17. The Descartes Systems Group has a 12 month low of $87.20 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Fiera Capital Corp grew its position in shares of 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 valued at $265,692,000 after purchasing an additional 19,817 shares during the period. Assetmark Inc. grew its position in The Descartes Systems Group by 3.5% in the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares in the last quarter. Versor Investments LP acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at $278,000. Aigen Investment Management LP bought a new stake in The Descartes Systems Group during the 3rd quarter worth about $276,000. Finally, Cumberland Partners Ltd boosted its stake 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 buying an additional 3,065 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

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.