Royal Bank Of Canada Reiterates $125.00 Price Target for The Descartes Systems Group (NASDAQ:DSGX)

Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research report sent to investors on Friday morning,BayStreet reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on DSGX. Raymond James Financial decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, July 20th. Loop Capital reissued a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $78.94 on Friday. The firm has a market capitalization of $6.75 billion, a PE ratio of 39.47 and a beta of 0.62. The Descartes Systems Group has a twelve month low of $62.56 and a twelve month high of $109.00. The firm’s 50-day moving average price is $75.22 and its 200 day moving average price is $72.28.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after buying an additional 69,260 shares during the last quarter. Mackenzie Financial Corp increased its stake in The Descartes Systems Group by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock worth $296,326,000 after acquiring an additional 56,069 shares during the last quarter. Jupiter Topco LLC purchased a new stake in The Descartes Systems Group in the second quarter valued at $181,742,000. Janus Henderson Group PLC lifted its stake in shares of The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after purchasing an additional 100,937 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group during the 2nd quarter worth $141,403,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.