The Descartes Systems Group (NASDAQ:DSGX) Upgraded by Barclays to Equal Weight Rating

Barclays upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an underweight rating to an equal weight rating in a report published on Friday, Marketbeat.com reports. They currently have $125.00 price objective on the technology company’s stock, up from their prior price objective of $88.00.

A number of other research firms also recently weighed in on DSGX. Scotiabank increased their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Stock Up 1.1 %

The Descartes Systems Group stock opened at $112.63 on Friday. The Descartes Systems Group has a 52 week low of $79.21 and a 52 week high of $117.24. The company’s 50 day moving average price is $104.91 and its two-hundred day moving average price is $100.11. The stock has a market cap of $9.63 billion, a P/E ratio of 76.10 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted 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 business had revenue of $163.43 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities analysts anticipate that The Descartes Systems Group will post 1.69 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in shares of The Descartes Systems Group by 5.3% during the 1st quarter. US Bancorp DE now owns 6,615 shares of the technology company’s stock worth $605,000 after acquiring an additional 331 shares during the last quarter. Nicolet Advisory Services LLC grew its position in The Descartes Systems Group by 43.1% during the first quarter. Nicolet Advisory Services LLC now owns 3,863 shares of the technology company’s stock valued at $349,000 after acquiring an additional 1,164 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of The Descartes Systems Group during the first quarter worth approximately $915,000. Westfield Capital Management Co. LP bought a new stake in shares of The Descartes Systems Group in the 1st quarter worth approximately $47,481,000. Finally, Vanguard Group Inc. boosted its stake in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.