The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $90.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target raised by BMO Capital Markets from $82.00 to $90.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the technology company’s stock.

DSGX has been the subject of several other reports. Scotiabank lifted their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a report on Friday, September 11th. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Friday, September 4th. Scotia increased their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. National Bank Financial raised their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Finally, Weiss Ratings upgraded The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. One equities research 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 Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.33.

The Descartes Systems Group Trading Up 3.9%

NASDAQ DSGX opened at $88.64 on Tuesday. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $97.71. The company has a 50 day moving average of $79.29 and a 200-day moving average of $74.43. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 39.88 and a beta of 0.65.

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 (EPS) for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The business had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after acquiring an additional 100,937 shares during the last quarter. Jupiter Topco LLC bought a new stake in The Descartes Systems Group during the second quarter worth $181,742,000. Arrowstreet Capital Limited Partnership lifted its stake in The Descartes Systems Group by 74.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after purchasing an additional 743,104 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $141,403,000. Finally, Wellington Management Group LLP boosted its holdings 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 purchasing an additional 1,179,345 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.