The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $127.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price boosted by Scotiabank from $125.00 to $127.00 in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Stephens cut their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. TD Securities increased their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital started coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target on the stock. BMO Capital Markets cut their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Finally, Royal Bank of Canada decreased their target price on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $100.24 on Wednesday. The firm has a 50-day moving average of $110.36 and a 200-day moving average of $110.23. The company has a market cap of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99. The Descartes Systems Group has a one year low of $87.20 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. Analysts expect 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 institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of The Descartes Systems Group by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock worth $904,000 after purchasing an additional 438 shares during the last quarter. Mackenzie Financial Corp grew its holdings in The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in The Descartes Systems Group by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock worth $1,758,000 after acquiring an additional 345 shares during the last quarter. Sone Capital Management LLC acquired a new position in The Descartes Systems Group in the 4th quarter valued at approximately $4,754,000. Finally, Squarepoint Ops LLC bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $712,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

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.