The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Recommendation of “Buy” from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned an average rating of “Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $116.20.

A number of brokerages have commented on DSGX. BMO Capital Markets decreased their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. CIBC dropped their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, TD Cowen restated a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research report on Friday, October 3rd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $117,678,000. Temasek Holdings Private Ltd bought a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $91,155,000. CIBC Asset Management Inc lifted its stake in The Descartes Systems Group by 275.4% in the second quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock worth $85,085,000 after acquiring an additional 613,009 shares during the period. Picton Mahoney Asset Management bought a new stake in The Descartes Systems Group in the second quarter valued at $48,378,000. Finally, Westfield Capital Management Co. LP boosted its holdings in The Descartes Systems Group by 54.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock valued at $94,355,000 after acquiring an additional 351,700 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 5.3%

The Descartes Systems Group stock opened at $75.58 on Friday. The firm has a fifty day simple moving average of $86.48 and a two-hundred day simple moving average of $93.69. The Descartes Systems Group has a twelve month low of $74.72 and a twelve month high of $124.31. The company has a market capitalization of $6.50 billion, a PE ratio of 42.70 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal 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.