TD Securities Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Strong-Buy

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by equities research analysts at TD Securities to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other equities analysts have also issued reports on DSGX. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Morgan Stanley cut their price target on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 20th. BMO Capital Markets lowered their price objective on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday. Barclays dropped their price objective on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $117.55.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $92.75 on Friday. The Descartes Systems Group has a fifty-two week low of $78.88 and a fifty-two week high of $124.31. The firm has a 50 day moving average price of $89.24 and a 200 day moving average price of $98.50. The company has a market capitalization of $7.98 billion, a PE ratio of 52.40 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.76% and a net margin of 22.10%.The company had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of large investors have recently modified their holdings of the company. Grandeur Peak Global Advisors LLC boosted its stake in 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 worth $37,720,000 after buying an additional 108,250 shares in the last quarter. American Century Companies Inc. raised its stake in shares of The Descartes Systems Group by 5.9% in the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after buying an additional 12,571 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of The Descartes Systems Group by 31.9% during the 2nd quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after acquiring an additional 34,411 shares during the period. AGF Management Ltd. lifted its holdings in shares of The Descartes Systems Group by 26.3% during the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock worth $14,174,000 after acquiring an additional 29,012 shares during the period. Finally, Aviva PLC boosted its position in shares of The Descartes Systems Group by 8.5% during the 2nd quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock valued at $6,130,000 after acquiring an additional 4,709 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.