The Descartes Systems Group (NASDAQ:DSGX) Upgraded to “Strong-Buy” by National Bank Financial

National Bank Financial upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports.

Several other analysts have also issued reports on DSGX. Barclays upped their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an underweight rating in a report on Thursday, September 5th. TD Securities increased 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 note on Thursday, May 30th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an outperform rating in a report on Thursday. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a market perform rating in a report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of Moderate Buy and a consensus price target of $104.83.

The Descartes Systems Group Stock Down 2.6 %

Shares of DSGX opened at $102.18 on Wednesday. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $105.12. The stock has a market capitalization of $8.72 billion, a P/E ratio of 72.99 and a beta of 0.98. The company has a 50 day moving average of $99.17 and a 200-day moving average of $96.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) 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 business had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, sell-side analysts anticipate that The Descartes Systems Group will post 1.67 earnings per share for the current fiscal year.

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 business. Price T Rowe Associates Inc. MD grew its position in The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after acquiring an additional 278,796 shares during the last quarter. 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. Conestoga Capital Advisors LLC grew its holdings in shares of The Descartes Systems Group by 2.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock valued at $301,764,000 after purchasing an additional 66,645 shares during the last quarter. Fiera Capital Corp increased its position in The Descartes Systems Group by 3.3% during the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after purchasing an additional 81,263 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in The Descartes Systems Group by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after purchasing an additional 91,301 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.