The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Average Rating of “Moderate Buy” by Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received an average rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $102.7143.

Several brokerages recently issued reports on DSGX. 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. Raymond James Financial decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Loop Capital reiterated a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a 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 report on Tuesday, July 21st. Finally, Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Friday, September 4th.

The Descartes Systems Group Trading Down 0.9%

Shares of DSGX opened at $79.04 on Friday. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $104.43. The stock has a market cap of $6.76 billion, a P/E ratio of 36.93 and a beta of 0.62. The company has a 50-day moving average of $76.07 and a two-hundred day moving average of $72.92.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%.The firm had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The Descartes Systems Group’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts forecast that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings 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 worth $184,127,000 after purchasing an additional 100,937 shares during the period. Jupiter Topco LLC acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at approximately $181,742,000. Arrowstreet Capital Limited Partnership raised its stake in The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after acquiring an additional 743,104 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of The Descartes Systems Group during the second quarter valued at about $141,403,000. Finally, Westfield Capital Management Co. LP lifted its stake in shares of The Descartes Systems Group by 19.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,193,869 shares of the technology company’s stock worth $104,655,000 after acquiring an additional 192,538 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 is a Canadian technology company that provides cloud-based logistics and supply chain management software. Its platform helps businesses manage the movement of goods, shipments, vehicles and trade-related information across complex supply chains.

The company’s offerings include transportation management, route planning and optimization, shipment tracking, telematics, freight matching, customs and regulatory compliance, logistics messaging, and electronic connectivity among shippers, carriers, brokers, manufacturers and other supply chain participants.