CIBC Private Wealth Group LLC Increases Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

CIBC Private Wealth Group LLC boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 35.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,739 shares of the technology company’s stock after acquiring an additional 717 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in The Descartes Systems Group were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DSGX. Mather Group LLC. grew its position in shares of The Descartes Systems Group by 301.7% in 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. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at about $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $54,000. GAMMA Investing LLC boosted its position in shares of 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 valued at $57,000 after acquiring an additional 495 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in The Descartes Systems Group during the 4th quarter worth approximately $57,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 4.8 %

NASDAQ DSGX opened at $95.84 on Friday. The firm has a market cap of $8.20 billion, a PE ratio of 60.28 and a beta of 0.99. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31. The stock has a 50-day moving average of $108.55 and a 200-day moving average of $110.33.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on DSGX. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC decreased their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Finally, Stephens dropped their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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 $120.50.

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.