The Descartes Systems Group (NASDAQ:DSGX) Shares Gap Down Following Analyst Downgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price gapped down prior to trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $133.00 to $130.00. The stock had previously closed at $110.92, but opened at $95.95. Royal Bank of Canada currently has an outperform rating on the stock. The Descartes Systems Group shares last traded at $102.52, with a volume of 187,115 shares traded.

A number of other brokerages have also issued reports on DSGX. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Scotiabank boosted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. BMO Capital Markets lifted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens reduced their target price on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mather Group LLC. increased its stake in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. GeoWealth Management LLC increased its position in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in The Descartes Systems Group during the fourth quarter valued at $43,000. Trust Co. of Vermont purchased a new position in The Descartes Systems Group during the fourth quarter valued at $54,000. Finally, GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 10.3 %

The firm has a fifty day moving average price of $114.83 and a two-hundred day moving average price of $110.17. The stock has a market capitalization of $8.52 billion, a P/E ratio of 63.34 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 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 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.