CIBC Asset Management Inc Raises Stock Holdings in The Descartes Systems Group Inc. $DSGX

CIBC Asset Management Inc raised its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,166,883 shares of the technology company’s stock after buying an additional 203,522 shares during the quarter. CIBC Asset Management Inc’s holdings in The Descartes Systems Group were worth $103,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $27,000. Danske Bank A S purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $40,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after buying an additional 401 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DSGX shares. Barclays reduced their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. BMO Capital Markets cut their price target on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, March 12th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Morgan Stanley cut their price target on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Finally, Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $105.45.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $77.61 on Wednesday. The stock has a fifty day moving average price of $71.17 and a two-hundred day moving average price of $76.38. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 41.73 and a beta of 0.64. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $115.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million during the quarter, compared to analysts’ expectations of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The Descartes Systems Group’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, analysts predict that The Descartes Systems Group Inc. will post 2.62 EPS for the current year.

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.