The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $116.30.

A number of research firms have commented on DSGX. Barclays decreased their price target on The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. TD Cowen restated a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Morgan Stanley increased their price objective on shares of The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. Finally, TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently bought and sold shares of the stock. Grandeur Peak Global Advisors LLC grew its holdings in The Descartes Systems Group by 41.2% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after purchasing an additional 108,250 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in The Descartes Systems Group by 31.9% in the second quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after purchasing an additional 34,411 shares during the last quarter. Aviva PLC boosted its position in shares of The Descartes Systems Group by 8.5% during the second quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock valued at $6,130,000 after buying an additional 4,709 shares during the period. AGF Management Ltd. grew its stake in shares of The Descartes Systems Group by 26.3% during the second quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock valued at $14,174,000 after buying an additional 29,012 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of 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 valued at $400,969,000 after buying an additional 80,309 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 2.9%

NASDAQ DSGX opened at $85.13 on Monday. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 48.10 and a beta of 0.74. The company’s 50 day moving average is $86.79 and its two-hundred day moving average is $95.89.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.