The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a buy rating in a research report released on Friday morning.

Several other research firms have also recently commented on DSGX. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Scotiabank increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $88.00 to $125.00 in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $112.63 on Friday. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $117.24. The stock has a market capitalization of $9.63 billion, a PE ratio of 76.10 and a beta of 0.97. The business’s 50-day moving average is $104.91 and its 200 day moving average is $100.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently added to or reduced their stakes in DSGX. Price T Rowe Associates Inc. MD raised its stake in shares of The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in The Descartes Systems Group by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the last quarter. Vanguard Group Inc. lifted its stake in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after acquiring an additional 40,897 shares during the period. Fiera Capital Corp boosted its holdings in shares of The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after acquiring an additional 91,301 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.