The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Average Rating of “Buy” by Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average recommendation of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $114.20.

Several equities research analysts have recently commented on DSGX shares. Scotiabank decreased their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a report on Thursday, December 4th.

Institutional Trading of The Descartes Systems Group

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Teacher Retirement System of Texas purchased a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $8,528,000. Y Intercept Hong Kong Ltd bought a new stake in The Descartes Systems Group during the third quarter worth $2,460,000. Grandeur Peak Global Advisors LLC boosted its position in 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 worth $37,720,000 after purchasing an additional 108,250 shares during the last quarter. CIBC Asset Management Inc boosted its position 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 purchasing an additional 127,762 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in The Descartes Systems Group in the 3rd quarter valued at $10,031,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 6.4%

Shares of DSGX opened at $62.82 on Tuesday. The business’s fifty day moving average is $79.78 and its 200 day moving average is $88.97. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $117.35. The stock has a market cap of $5.40 billion, a P/E ratio of 35.49 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating 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 business had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same quarter in the previous year, the business posted $0.42 EPS. The Descartes Systems Group’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect that The Descartes Systems Group will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.