The Descartes Systems Group (NASDAQ:DSGX) Earns Buy Rating from Loop Capital

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “buy” rating reiterated by equities research analysts at Loop Capital in a report released on Thursday, Benzinga reports. They presently have a $96.00 price target on the technology company’s stock. Loop Capital’s price objective indicates a potential upside of 13.07% from the stock’s current price.

A number of other brokerages have also commented on DSGX. Scotia raised their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a report on Friday, September 4th. Scotiabank increased their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Weiss Ratings upgraded shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 21st. Finally, National Bank Financial boosted their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.67.

The Descartes Systems Group Stock Up 1.5%

Shares of The Descartes Systems Group stock traded up $1.23 during midday trading on Thursday, hitting $84.90. The company’s stock had a trading volume of 183,226 shares, compared to its average volume of 614,584. The firm has a market capitalization of $7.26 billion, a P/E ratio of 39.71 and a beta of 0.65. The stock has a 50-day simple moving average of $78.75 and a 200-day simple moving average of $74.10. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $98.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The Descartes Systems Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, sell-side analysts predict that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter worth about $181,742,000. The Manufacturers Life Insurance Company bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $141,403,000. Wellington Management Group LLP grew its stake in shares of The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after buying an additional 1,179,345 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in The Descartes Systems Group in the second quarter worth approximately $58,755,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in The Descartes Systems Group by 74.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after buying an additional 743,104 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.