The Descartes Systems Group Inc. $DSGX Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,788 shares of the technology company’s stock after selling 10,075 shares during the period. Cibc World Market Inc. owned about 0.05% of The Descartes Systems Group worth $4,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock worth $627,000 after buying an additional 114 shares in the last quarter. Vista Finance LLC raised its stake in The Descartes Systems Group by 4.0% in the 2nd quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock valued at $330,000 after purchasing an additional 126 shares during the last quarter. AXA S.A. lifted its holdings in The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares in the last quarter. Versant Capital Management Inc boosted its stake in The Descartes Systems Group by 24.8% during the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after purchasing an additional 131 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its stake in The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

DSGX stock opened at $65.74 on Friday. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $117.35. The firm has a market cap of $5.65 billion, a PE ratio of 37.14 and a beta of 0.75. The firm’s 50 day moving average price is $82.92 and its 200-day moving average price is $90.76.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $184.24 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a report on Thursday, December 4th. Finally, Scotiabank reduced their price objective on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Company Profile

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.