CIBC Asset Management Inc Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

CIBC Asset Management Inc trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 119,309 shares of the technology company’s stock after selling 500 shares during the period. CIBC Asset Management Inc’s holdings in The Descartes Systems Group were worth $12,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after buying an additional 11,025 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in The Descartes Systems Group in the second quarter valued at approximately $527,000. Acadian Asset Management LLC boosted its position in The Descartes Systems Group by 527.7% in the 1st quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock worth $5,398,000 after purchasing an additional 49,600 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of The Descartes Systems Group by 7.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 280,232 shares of the technology company’s stock worth $25,650,000 after purchasing an additional 20,230 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in The Descartes Systems Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 0.5 %

Shares of NASDAQ DSGX opened at $111.41 on Friday. The company has a 50-day moving average of $104.91 and a 200 day moving average of $100.07. The Descartes Systems Group Inc. has a 12-month low of $79.21 and a 12-month high of $117.24. The stock has a market cap of $9.52 billion, a PE ratio of 75.28 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DSGX has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Scotiabank lifted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

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.