The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) shares gapped down prior to trading on Thursday after BMO Capital Markets lowered their price target on the stock from $74.00 to $71.00. The stock had previously closed at $67.27, but opened at $65.18. The Descartes Systems Group shares last traded at $67.17, with a volume of 2,295 shares traded.
Several other research analysts have also commented on the company. TD Securities boosted their price target on The Descartes Systems Group from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. StockNews.com initiated coverage on The Descartes Systems Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays reduced their target price on The Descartes Systems Group from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Thursday. Canaccord Genuity Group upped their target price on The Descartes Systems Group from $74.00 to $77.00 in a research report on Thursday, September 8th. Finally, Wolfe Research lowered The Descartes Systems Group from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.56.
Institutional Trading of The Descartes Systems Group
Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in The Descartes Systems Group by 21.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,874,995 shares of the technology company’s stock valued at $798,969,000 after purchasing an additional 2,261,747 shares during the last quarter. Jarislowsky Fraser Ltd grew its stake in The Descartes Systems Group by 3.5% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 4,871,988 shares of the technology company’s stock valued at $302,112,000 after purchasing an additional 166,619 shares during the last quarter. Durable Capital Partners LP grew its stake in The Descartes Systems Group by 11.5% during the 3rd quarter. Durable Capital Partners LP now owns 4,260,355 shares of the technology company’s stock valued at $270,660,000 after purchasing an additional 440,697 shares during the last quarter. Vanguard Group Inc. grew its stake in The Descartes Systems Group by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,892,052 shares of the technology company’s stock valued at $183,732,000 after purchasing an additional 88,518 shares during the last quarter. Finally, Echo Street Capital Management LLC grew its stake in The Descartes Systems Group by 10.6% during the 1st quarter. Echo Street Capital Management LLC now owns 2,728,320 shares of the technology company’s stock valued at $199,739,000 after purchasing an additional 260,600 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.
The Descartes Systems Group Stock Performance
The company has a 50 day simple moving average of $68.08 and a two-hundred day simple moving average of $66.66. The firm has a market cap of $5.80 billion, a PE ratio of 63.90 and a beta of 1.03.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its earnings results on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The Descartes Systems Group had a return on equity of 9.01% and a net margin of 19.37%. The firm had revenue of $123.01 million for the quarter, compared to the consensus estimate of $118.72 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s revenue was up 17.6% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.08 earnings per share for the current fiscal year.
The Descartes Systems Group Company Profile
The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.