The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $116.20.

A number of research firms recently weighed in on DSGX. Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a research note on Thursday, December 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th.

The Descartes Systems Group Stock Down 8.8%

Shares of NASDAQ:DSGX opened at $66.36 on Friday. The business’s 50 day moving average is $85.87 and its 200 day moving average is $92.86. The Descartes Systems Group has a 12-month low of $65.29 and a 12-month high of $124.31. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 37.49 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth approximately $303,000. R Squared Ltd bought a new position in The Descartes Systems Group during the fourth quarter valued at $264,000. M&T Bank Corp increased its position in The Descartes Systems Group by 20.2% in the fourth quarter. M&T Bank Corp now owns 13,932 shares of the technology company’s stock worth $1,224,000 after buying an additional 2,339 shares during the last quarter. Pictet Asset Management Holding SA increased its position in The Descartes Systems Group by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 45,206 shares of the technology company’s stock worth $3,971,000 after buying an additional 6,226 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of The Descartes Systems Group by 177.3% in the fourth quarter. UBS Group AG now owns 225,603 shares of the technology company’s stock valued at $19,776,000 after buying an additional 144,233 shares during the period. Institutional investors own 77.73% of the company’s stock.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.