The Descartes Systems Group (NASDAQ:DSGX) Raised to Equal Weight at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by investment analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has a $125.00 price objective on the technology company’s stock, up from their prior price objective of $88.00. Barclays‘s target price indicates a potential upside of 12.20% from the company’s previous close.

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

The Descartes Systems Group Trading Down 0.5 %

NASDAQ:DSGX opened at $111.41 on Friday. The stock has a market capitalization of $9.52 billion, a P/E ratio of 75.28 and a beta of 0.97. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $117.24. The firm has a 50 day moving average of $104.91 and a 200-day moving average of $100.07.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data 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 business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in The Descartes Systems Group by 3.8% during 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 purchasing an additional 278,796 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of The Descartes Systems Group by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after purchasing an additional 52,485 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of The Descartes Systems Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 0.8% in the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after buying an additional 19,817 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of 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 buying an additional 91,301 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

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.