The Descartes Systems Group (NASDAQ:DSGX) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a buy rating in a research note published on Friday.

Several other research firms have also recently weighed in on DSGX. Scotiabank boosted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $109.25.

The Descartes Systems Group Trading Down 0.5 %

NASDAQ DSGX opened at $111.41 on Friday. The business’s 50-day moving average price is $104.91 and its two-hundred day moving average price is $100.11. The Descartes Systems Group has a 12 month low of $79.21 and a 12 month high of $117.24. The firm has a market capitalization of $9.52 billion, a PE ratio of 75.28 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the prior year, the company posted $0.32 EPS. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently modified their holdings of the stock. Intact Investment Management Inc. purchased a new position in The Descartes Systems Group in the second quarter valued at approximately $61,000. Blue Trust Inc. increased its holdings in The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares in the last quarter. Andra AP fonden acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at about $77,000. Park Place Capital Corp raised its holdings in shares of The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after acquiring an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after purchasing an additional 704 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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.