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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $119.50.

Several research firms have commented on DSGX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens decreased their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Finally, Barclays lowered their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently bought and sold shares of DSGX. Bank of New York Mellon Corp increased its stake in shares of The Descartes Systems Group by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock valued at $12,940,000 after buying an additional 3,316 shares in the last quarter. Cidel Asset Management Inc. raised its stake in shares of The Descartes Systems Group by 0.4% in the first quarter. Cidel Asset Management Inc. now owns 107,911 shares of the technology company’s stock worth $10,862,000 after acquiring an additional 443 shares during the last quarter. Impact Investors Inc lifted its position in shares of The Descartes Systems Group by 22.9% during the first quarter. Impact Investors Inc now owns 5,280 shares of the technology company’s stock worth $532,000 after purchasing an additional 984 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of The Descartes Systems Group by 9.8% during the first quarter. Bessemer Group Inc. now owns 235,879 shares of the technology company’s stock valued at $23,782,000 after purchasing an additional 21,143 shares during the last quarter. Finally, Yorktown Management & Research Co Inc increased its holdings in shares of The Descartes Systems Group by 31.7% in the first quarter. Yorktown Management & Research Co Inc now owns 10,800 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.1 %

DSGX opened at $105.95 on Wednesday. The Descartes Systems Group has a 1-year low of $89.00 and a 1-year high of $124.31. The business has a 50 day moving average of $102.80 and a 200-day moving average of $110.24. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 66.64 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Equities analysts predict that The Descartes Systems Group will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.