Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $116.15

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $116.15.

A number of research analysts have recently weighed in on DSGX shares. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. TD Securities lifted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $114.11 on Thursday. The firm’s 50 day moving average price is $113.90 and its two-hundred day moving average price is $104.66. The Descartes Systems Group has a twelve month low of $79.21 and a twelve month high of $122.88. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 71.77 and a beta of 0.98.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its stake in shares of The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after buying an additional 556,408 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at about $20,608,000. Triasima Portfolio Management inc. increased its stake in shares of The Descartes Systems Group by 90.1% in the second quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock worth $24,584,000 after purchasing an additional 120,325 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth about $10,503,000. Finally, American Century Companies Inc. boosted its stake in The Descartes Systems Group by 65.4% during the 2nd quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock valued at $23,640,000 after purchasing an additional 96,431 shares during the period. Institutional investors and hedge funds 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.