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DSGX

Descartes Systems

$30.67

-0.14 (-0.45%)

06:14
01/28/19
01/28
06:14
01/28/19
06:14

Descartes Systems to acquire Visual Compliance

Descartes Systems Group announced that it has signed a definitive agreement to acquire the businesses run by the Management Systems Resources group of companies operating under the names "Visual Compliance," "eCustoms" and "MSR". Visual Compliance provides software solutions and services to automate customs, trade and fiscal compliance processes, with a focus on denied and restricted party screening processes and export licensing. Descartes has agreed to acquire Visual Compliance for approximately CA$330M, o r approximately $250M, including working capital acquired. The transaction is structured as a combination of asset and share purchases. Descartes will partially satisfy the purchase price by issuing approximately CA$12M, or approximately $9M, in Descartes common shares to individuals receiving proceeds from the transaction including members of management, with the exact number of shares to be determined at closing using the weighted average closing price of Descartes' shares for a period before the closing date. The balance of the purchase price, approximately $241M will be satisfied in cash, primarily drawn from Descartes' amended and expanded revolving credit facility. The transaction is expected to close in February and is subject to customary closing conditions, including stock exchange approval for the issuance of shares.

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DSGX Descartes Systems
$30.67

-0.14 (-0.45%)

11/29/18
BMOC
11/29/18
NO CHANGE
Target $32
BMOC
Market Perform
Descartes Systems price target lowered to $32 from $35 at BMO Capital
BMO Capital analyst Thanos Moschopoulos lowered his price target on Descartes Systems to $32 and kept his Market Perform rating after its Q3 earnings miss. The analyst notes that while the company can continue to execute "successfully" against its strategy and benefit from the "disruptive changes" in the logistics industry, he prefers "other Canadian software consolidators" on a relative basis. Moschopoulos adds that Descartes Systems likely grew its organic revenue by 6% in Q3, which would be toward the upper end of the 4%-6% range achieved in the recent quarters, but believes that a lower price target is warranted by the broader multiple compression in the SaaS group.
03/06/18
ADAM
03/06/18
NO CHANGE
Target $34
ADAM
Buy
Pullback makes Descarte Systems 'safe harbor' pick, says Canaccord
Canaccord analyst Richard Davis noted Descartes Systems reported solid Q4 results. After doing the same in Q3, valuation was stretched. However, with a recent pullback and upward estimate revisions, investors are getting a chance to buy the stock at a comparatively more interesting price. He thinks the shares are a good pick for the "safe harbor" portion of an investment strategy. Davis reiterated his Buy rating and $34 price target on Descartes Systems shares.

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