The Descartes Systems Group (NASDAQ:DSGX) Lifted to “Sector Outperform” at CIBC

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a research note released on Tuesday, Marketbeat.com reports. They currently have $101.00 price target on the technology company’s stock, up from their previous price target of $96.50.

Several other research analysts also recently commented on DSGX. Scotiabank increased their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company a sector outperform rating in a research note on Thursday, March 7th. William Blair reissued an outperform rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. Wolfe Research upgraded shares of The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 price target on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated an outperform rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. Finally, TD Securities raised their target price on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $98.44.

The Descartes Systems Group Stock Up 0.2 %

DSGX opened at $90.32 on Tuesday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 67.40 and a beta of 0.94. The firm’s fifty day simple moving average is $89.72 and its two-hundred day simple moving average is $83.78. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $94.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period last year, the company posted $0.34 EPS. The Descartes Systems Group’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, research analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in The Descartes Systems Group by 218.0% in the first quarter. Citigroup Inc. now owns 3,813 shares of the technology company’s stock valued at $279,000 after acquiring an additional 2,614 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of The Descartes Systems Group by 17.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,765 shares of the technology company’s stock valued at $788,000 after purchasing an additional 1,568 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of The Descartes Systems Group by 11.1% during the 1st quarter. Natixis Advisors L.P. now owns 17,167 shares of the technology company’s stock worth $1,258,000 after purchasing an additional 1,721 shares during the period. BlackRock Inc. increased its position in shares of The Descartes Systems Group by 6.7% during the 1st quarter. BlackRock Inc. now owns 235,686 shares of the technology company’s stock worth $17,266,000 after purchasing an additional 14,735 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in The Descartes Systems Group by 3.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 12,412 shares of the technology company’s stock valued at $967,000 after buying an additional 444 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

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.