The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $102.54 Average Target Price from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities 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 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $102.5385.

A number of equities analysts have recently commented on the stock. Loop Capital reaffirmed a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. Raymond James Financial reduced their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th.

Institutional Trading of The Descartes Systems Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in The Descartes Systems Group by 47.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,338 shares of the technology company’s stock worth $93,000 after acquiring an additional 429 shares during the period. Parallel Advisors LLC increased its holdings in shares of The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after purchasing an additional 419 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of The Descartes Systems Group by 10.2% in the first quarter. Segall Bryant & Hamill LLC now owns 490,898 shares of the technology company’s stock valued at $35,129,000 after purchasing an additional 45,558 shares during the period. Argent Capital Management LLC increased its holdings in shares of The Descartes Systems Group by 56.9% in the first quarter. Argent Capital Management LLC now owns 90,549 shares of the technology company’s stock valued at $6,480,000 after purchasing an additional 32,824 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of The Descartes Systems Group by 62.0% during the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company’s stock worth $52,488,000 after purchasing an additional 280,713 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $68.18 on Friday. The stock’s 50 day moving average price is $71.69 and its 200 day moving average price is $72.30. The company has a market capitalization of $5.84 billion, a PE ratio of 34.09 and a beta of 0.64. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $109.00.

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

About The Descartes Systems Group

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.