The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Rating of “Moderate Buy” from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $103.00.

Several equities research analysts have commented on the stock. Stephens boosted their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Barclays upped their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, September 5th. TD Securities lifted their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. BMO Capital Markets lifted their target price 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, September 5th.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc raised its position in The Descartes Systems Group by 10.5% in the fourth quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock valued at $65,201,000 after purchasing an additional 73,410 shares during the period. Bessemer Group Inc. grew its holdings in The Descartes Systems Group by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after acquiring an additional 11,025 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of The Descartes Systems Group by 13.6% in the 4th quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock worth $13,131,000 after purchasing an additional 18,700 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in The Descartes Systems Group by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after buying an additional 8,722 shares during the last quarter. Finally, Zeno Equity Partners LLP acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at approximately $11,108,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $99.55 on Tuesday. The business has a 50 day simple moving average of $98.89 and a 200-day simple moving average of $95.63. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $104.71. The stock has a market capitalization of $8.50 billion, a PE ratio of 71.11 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its 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 firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group will post 1.67 EPS for the current year.

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.