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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $102.00.

A number of analysts have weighed in on DSGX shares. Raymond James upped their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. Barclays upped their target price on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. TD Securities upped their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. CIBC upped their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, BMO Capital Markets increased their price objective on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, May 30th.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after acquiring an additional 278,796 shares during the period. Vanguard Group Inc. grew its position in shares of The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after acquiring an additional 40,897 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of The Descartes Systems Group by 0.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 3,049,464 shares of the technology company’s stock valued at $279,117,000 after acquiring an additional 23,285 shares during the period. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 9.3% during the 4th quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock valued at $204,169,000 after acquiring an additional 206,193 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of The Descartes Systems Group by 8.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after acquiring an additional 154,110 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 0.7 %

Shares of NASDAQ:DSGX opened at $99.01 on Thursday. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $100.69. The stock has a market cap of $8.45 billion, a P/E ratio of 70.72 and a beta of 0.98. The business’s 50 day moving average is $95.67 and its 200 day moving average is $90.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The company had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. On average, sell-side analysts anticipate that The Descartes Systems Group will post 1.59 EPS for the current fiscal 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.