The Descartes Systems Group (NASDAQ:DSGX) Coverage Initiated by Analysts at TD Securities

TD Securities began coverage on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $121.00 target price on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada decreased their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Barclays lowered their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an “equal weight” rating and a $110.00 price target on the stock. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $93.90 on Friday. The stock has a market capitalization of $8.07 billion, a PE ratio of 55.56 and a beta of 0.77. The Descartes Systems Group has a fifty-two week low of $91.00 and a fifty-two week high of $124.31. The company has a fifty day moving average of $101.02 and a two-hundred day moving average of $103.38.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million for the quarter, compared to analysts’ expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock valued at $719,370,000 after purchasing an additional 936,718 shares during the period. Mackenzie Financial Corp increased its stake in The Descartes Systems Group by 2.1% during the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after purchasing an additional 80,309 shares during the period. Vanguard Group Inc. boosted its stake in shares of The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company’s stock valued at $336,814,000 after purchasing an additional 46,369 shares during the period. Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 8.0% in the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock valued at $276,705,000 after purchasing an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock worth $196,412,000 after buying an additional 181,086 shares in the last quarter. 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.