The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $103.00.

Several equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. Raymond James raised their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. CIBC upped their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. TD Securities raised their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. 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.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently made changes to their positions in DSGX. Assenagon Asset Management S.A. raised its position in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after purchasing an additional 158 shares during the period. Bank of Nova Scotia Trust Co. lifted its position in The Descartes Systems Group by 0.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after acquiring an additional 173 shares in the last quarter. Prudential PLC boosted its holdings in The Descartes Systems Group by 1.8% in the 4th quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after acquiring an additional 193 shares during the period. Park Place Capital Corp grew its position in 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 valued at $86,000 after acquiring an additional 212 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of The Descartes Systems Group by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock valued at $137,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $103.55 on Tuesday. The business’s fifty day moving average price is $98.98 and its two-hundred day moving average price is $96.10. The stock has a market cap of $8.84 billion, a PE ratio of 73.96 and a beta of 0.98. The Descartes Systems Group has a one year low of $69.59 and a one year high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results 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 firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts predict that The Descartes Systems Group will post 1.67 earnings per share for the current fiscal 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.