The Descartes Systems Group (NASDAQ:DSGX) PT Raised to $120.00 at Scotiabank

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target increased by Scotiabank from $104.00 to $120.00 in a report released on Thursday, MarketBeat reports. They currently have a sector outperform rating on the technology company’s stock.

DSGX has been the topic of a number of other reports. Barclays increased 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. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. BMO Capital Markets increased their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Trading Up 0.6 %

Shares of NASDAQ:DSGX traded up $0.62 on Thursday, reaching $105.16. 18,818 shares of the company were exchanged, compared to its average volume of 151,277. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $108.02. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 74.67 and a beta of 0.97. The company has a 50-day moving average of $101.56 and a 200-day moving average of $97.94.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DSGX. Vanguard Group Inc. grew its position in The Descartes Systems Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock valued at $260,312,000 after acquiring an additional 31,078 shares in the last quarter. Park Place Capital Corp lifted its stake in The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after buying an additional 219 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in The Descartes Systems Group by 27.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 546,425 shares of the technology company’s stock valued at $50,014,000 after buying an additional 118,146 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in The Descartes Systems Group by 1.6% in the first quarter. Maryland State Retirement & Pension System now owns 57,628 shares of the technology company’s stock valued at $5,213,000 after buying an additional 886 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in The Descartes Systems Group in the first quarter valued at $565,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.