CIBC Asset Management Inc Increases Stake in The Descartes Systems Group Inc. $DSGX

CIBC Asset Management Inc grew its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.1% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 owned 1.36% of The Descartes Systems Group worth $103,308,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DSGX. Goldman Sachs Group Inc. lifted its position in shares of The Descartes Systems Group by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 575,036 shares of the technology company’s stock worth $50,408,000 after purchasing an additional 75,980 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of The Descartes Systems Group by 809.0% during the 4th quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company’s stock worth $20,688,000 after purchasing an additional 210,041 shares during the last quarter. Norges Bank purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth $100,405,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth $170,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of The Descartes Systems Group by 41.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,331 shares of the technology company’s stock worth $117,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $77.61 on Wednesday. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $115.88. The stock has a market cap of $6.68 billion, a PE ratio of 41.73 and a beta of 0.64. The firm has a fifty day moving average price of $71.17 and a 200 day moving average price of $76.38.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The firm had revenue of $192.37 million during the quarter, compared to analysts’ expectations of $188.09 million. During the same period in the previous year, the company earned $0.43 earnings per share. The Descartes Systems Group’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts expect that The Descartes Systems Group Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DSGX shares. Zacks Research cut shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Barclays decreased their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Scotiabank decreased their target price on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings cut The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Finally, BMO Capital Markets decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.45.

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.