The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Average Rating of “Moderate Buy” by Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $102.00.

A number of research analysts have commented on DSGX shares. TD Securities upped their target price on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. CIBC upped their target price on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Scotiabank increased their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Thursday, May 30th.

The Descartes Systems Group Trading Down 3.8 %

Shares of DSGX opened at $95.72 on Monday. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $104.71. The firm has a 50-day moving average price of $97.19 and a 200 day moving average price of $93.15. The firm has a market capitalization of $8.17 billion, a P/E ratio of 68.36 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm had revenue of $151.30 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently added to or reduced their stakes in DSGX. SG Americas Securities LLC purchased a new position in The Descartes Systems Group in the fourth quarter valued at approximately $209,000. Fenimore Asset Management Inc. increased its stake in The Descartes Systems Group by 0.6% in the fourth quarter. Fenimore Asset Management Inc. now owns 135,447 shares of the technology company’s stock valued at $11,386,000 after purchasing an additional 800 shares during the last quarter. Trust Point Inc. purchased a new position in The Descartes Systems Group in the fourth quarter valued at approximately $781,000. DekaBank Deutsche Girozentrale grew its position in shares of The Descartes Systems Group by 4.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock worth $541,000 after acquiring an additional 282 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of The Descartes Systems Group by 497.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock worth $36,001,000 after acquiring an additional 356,560 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other 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.