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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $108.6364.

Several brokerages have commented on DSGX. BMO Capital Markets cut their price objective on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, March 12th. Morgan Stanley decreased their target price on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Barclays lowered their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Zacks Research cut shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research note on Thursday, December 4th.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $72.56 on Friday. The Descartes Systems Group has a 1 year low of $62.56 and a 1 year high of $117.35. The business has a 50 day simple moving average of $72.89 and a two-hundred day simple moving average of $85.22. The firm has a market capitalization of $6.24 billion, a PE ratio of 39.01 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The firm had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of DSGX. Teacher Retirement System of Texas bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth $8,528,000. Y Intercept Hong Kong Ltd purchased a new position in shares of The Descartes Systems Group during the third quarter valued at $2,460,000. Grandeur Peak Global Advisors LLC raised its holdings in shares of The Descartes Systems Group by 41.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 108,250 shares in the last quarter. CIBC Asset Management Inc lifted its stake in The Descartes Systems Group by 15.3% in the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after acquiring an additional 127,762 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in The Descartes Systems Group in the third quarter worth about $1,954,000. 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 (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.