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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $119.50.

A number of brokerages recently issued reports on DSGX. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. CIBC lowered their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock.

The Descartes Systems Group Trading Up 9.2 %

Shares of NASDAQ:DSGX opened at $102.77 on Friday. The Descartes Systems Group has a 1-year low of $87.20 and a 1-year high of $124.31. The stock’s fifty day simple moving average is $106.68 and its two-hundred day simple moving average is $110.20. The stock has a market cap of $8.80 billion, a PE ratio of 64.64 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Vanguard Group Inc. raised its holdings in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock worth $375,047,000 after purchasing an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock valued at $200,716,000 after purchasing an additional 101,290 shares in the last quarter. Franklin Resources Inc. raised its stake in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after acquiring an additional 326,643 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of The Descartes Systems Group by 114.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.