Scotiabank Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $95.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective lowered by Scotiabank from $115.00 to $95.00 in a research report released on Wednesday, Marketbeat reports. The firm currently has an outperform rating on the technology company’s stock.

DSGX has been the subject of a number of other research reports. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Stock Performance

DSGX opened at $66.78 on Wednesday. The company has a fifty day moving average price of $84.96 and a two-hundred day moving average price of $92.25. The firm has a market capitalization of $5.75 billion, a PE ratio of 37.73 and a beta of 0.75. The Descartes Systems Group has a 52 week low of $64.27 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in The Descartes Systems Group by 7,080.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,795 shares of the technology company’s stock valued at $157,000 after buying an additional 1,770 shares in the last quarter. Summit Creek Advisors LLC raised its holdings in shares of The Descartes Systems Group by 2.0% during the fourth quarter. Summit Creek Advisors LLC now owns 179,044 shares of the technology company’s stock worth $15,695,000 after acquiring an additional 3,579 shares during the period. Harvest Portfolios Group Inc. raised its holdings in shares of The Descartes Systems Group by 18.5% during the fourth quarter. Harvest Portfolios Group Inc. now owns 4,055 shares of the technology company’s stock worth $356,000 after acquiring an additional 632 shares during the period. Stephens Investment Management Group LLC lifted its position in The Descartes Systems Group by 4.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 207,652 shares of the technology company’s stock valued at $18,203,000 after acquiring an additional 8,935 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in The Descartes Systems Group by 37.0% in the 4th quarter. Stephens Inc. AR now owns 12,536 shares of the technology company’s stock valued at $1,099,000 after acquiring an additional 3,384 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.