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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $102.5385.

A number of research analysts have issued reports on the stock. Loop Capital restated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial dropped their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th.

The Descartes Systems Group Stock Down 3.5%

NASDAQ:DSGX opened at $65.73 on Friday. The stock’s 50 day moving average price is $71.68 and its two-hundred day moving average price is $72.41. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 32.87 and a beta of 0.64. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Equities research analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently modified their holdings of the stock. AXA S.A. raised its position in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its position in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after acquiring an additional 140 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares in the last quarter. GAMMA Investing LLC increased its position in The Descartes Systems Group by 18.7% in the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after buying an additional 165 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in The Descartes Systems Group by 19.2% in the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock valued at $96,000 after buying an additional 177 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

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.