The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $98.44 Average PT from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $98.44.

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, April 11th. Raymond James raised their price objective on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock worth $260,312,000 after purchasing an additional 31,078 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of The Descartes Systems Group by 0.8% during the first quarter. Conestoga Capital Advisors LLC now owns 3,049,464 shares of the technology company’s stock worth $279,117,000 after acquiring an additional 23,285 shares during the period. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 9.3% during the fourth quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock worth $204,169,000 after acquiring an additional 206,193 shares during the period. Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of The Descartes Systems Group by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,544,300 shares of the technology company’s stock worth $113,339,000 after acquiring an additional 41,854 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $94.24 on Friday. The firm has a market cap of $8.03 billion, a P/E ratio of 70.33 and a beta of 0.94. The firm has a 50 day simple moving average of $90.22 and a 200 day simple moving average of $84.37. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $96.10.

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 business had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The Descartes Systems Group’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. On average, sell-side analysts expect that The Descartes Systems Group will post 1.69 EPS for the current year.

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.