Royal Bank of Canada Issues Pessimistic Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX - Free Report) TSE: DSG had its target price decreased by Royal Bank of Canada from $130.00 to $126.00 in a research note published on Thursday morning, Marketbeat.com reports. Royal Bank of Canada currently has an outperform rating on the technology company's stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets dropped their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Stephens lowered their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. CIBC decreased their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Barclays reduced their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.40.

The Descartes Systems Group Price Performance

DSGX traded down $14.01 on Thursday, hitting $101.60. The company had a trading volume of 1,483,461 shares, compared to its average volume of 215,278. The Descartes Systems Group has a 52-week low of $90.61 and a 52-week high of $124.31. The stock has a fifty day simple moving average of $106.94 and a 200-day simple moving average of $110.75. The firm has a market capitalization of $8.70 billion, a P/E ratio of 63.90 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The Descartes Systems Group's revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in DSGX. Mackenzie Financial Corp raised its stake in shares of The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Norges Bank acquired a new stake in The Descartes Systems Group during the 4th quarter worth about $126,918,000. Price T Rowe Associates Inc. MD lifted its position in shares of The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after purchasing an additional 936,718 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of The Descartes Systems Group by 114.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. Finally, Praesidium Investment Management Company LLC bought a new position in The Descartes Systems Group during the fourth quarter valued at approximately $54,724,000. Institutional investors and hedge funds own 77.73% of the company's stock.

About The Descartes Systems Group

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.