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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $116.30.

Several equities research analysts have issued reports on DSGX shares. Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. CIBC lowered their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research report on Thursday, December 4th. Finally, BMO Capital Markets lowered their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at about $220,000. Scientech Research LLC boosted its stake in shares of The Descartes Systems Group by 39.0% during the first quarter. Scientech Research LLC now owns 8,129 shares of the technology company’s stock valued at $820,000 after purchasing an additional 2,280 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in The Descartes Systems Group by 35.1% during the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after buying an additional 98,054 shares during the period. United Services Automobile Association bought a new position in The Descartes Systems Group in the first quarter worth approximately $319,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in The Descartes Systems Group by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after buying an additional 660 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Down 2.9%

NASDAQ:DSGX opened at $85.13 on Monday. The Descartes Systems Group has a twelve month low of $78.88 and a twelve month high of $124.31. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 48.10 and a beta of 0.74. The stock has a fifty day simple moving average of $86.79 and a 200-day simple moving average of $95.89.

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