The Descartes Systems Group (NASDAQ:DSGX) Upgraded at TD Securities

TD Securities upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also recently commented on DSGX. Barclays lowered their price target on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Scotiabank lowered their target price on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday. 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. Finally, Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.55.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $92.75 on Friday. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 52.40 and a beta of 0.74. The stock’s 50-day moving average is $89.24 and its two-hundred day moving average is $98.39. The Descartes Systems Group has a 1-year low of $78.88 and a 1-year high of $124.31.

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, beating 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 business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same quarter last year, the business posted $0.42 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DSGX. Grandeur Peak Global Advisors LLC boosted its stake 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 buying an additional 108,250 shares in the last quarter. American Century Companies Inc. lifted its holdings in The Descartes Systems Group by 5.9% in the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after acquiring an additional 12,571 shares during the period. Cidel Asset Management Inc. boosted its position in shares of The Descartes Systems Group by 31.9% during the 2nd 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 in the last quarter. AGF Management Ltd. grew its stake in shares of The Descartes Systems Group by 26.3% during the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock worth $14,174,000 after purchasing an additional 29,012 shares during the period. Finally, Aviva PLC increased its holdings in shares of The Descartes Systems Group by 8.5% in the 2nd quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock valued at $6,130,000 after purchasing an additional 4,709 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.