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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $121.80.

DSGX has been the topic of a number of research analyst reports. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an “equal weight” rating and a $110.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of The Descartes Systems Group in a research note on Saturday, September 27th. TD Cowen restated a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in shares of The Descartes Systems Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock worth $22,543,000 after buying an additional 12,571 shares during the last quarter. GAMMA Investing LLC boosted its position in The Descartes Systems Group by 9,983.0% during the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company’s stock valued at $5,134,000 after purchasing an additional 50,414 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 3,316 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in The Descartes Systems Group in the second quarter valued at approximately $1,230,000. Finally, Crown Oak Advisors LLC acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $4,356,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $93.90 on Friday. The business’s 50-day simple moving average is $101.02 and its 200-day simple moving average is $103.38. The Descartes Systems Group has a fifty-two week low of $91.00 and a fifty-two week high of $124.31. The stock has a market capitalization of $8.07 billion, a PE ratio of 55.56 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same period in the previous year, the company posted $0.40 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that The Descartes Systems Group will post 1.64 earnings per share 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.