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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $108.6364.

Several brokerages have recently commented on DSGX. Zacks Research lowered The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Barclays lowered their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $70.05 on Friday. The Descartes Systems Group has a fifty-two week low of $62.56 and a fifty-two week high of $117.35. The stock has a market cap of $6.03 billion, a P/E ratio of 37.66 and a beta of 0.77. The firm’s fifty day moving average price is $71.92 and its 200-day moving average price is $84.44.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The company had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently bought and sold shares of DSGX. Teacher Retirement System of Texas bought a new stake in The Descartes Systems Group during the 3rd quarter valued at $8,528,000. Y Intercept Hong Kong Ltd purchased a new position in shares of The Descartes Systems Group in the third quarter valued at about $2,460,000. Grandeur Peak Global Advisors LLC raised its stake in shares of The Descartes Systems Group by 41.2% during the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 108,250 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of The Descartes Systems Group by 15.3% during the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after acquiring an additional 127,762 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of The Descartes Systems Group during the third quarter worth about $1,954,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.