The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $123.40 Average PT from Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $123.40.

DSGX has been the subject of a number of research reports. BMO Capital Markets decreased their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Scotiabank raised their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 26th. Barclays reduced their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 5th. Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, CIBC decreased their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th.

Institutional Trading of The Descartes Systems Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock worth $719,370,000 after purchasing an additional 936,718 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of The Descartes Systems Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company’s stock valued at $336,814,000 after buying an additional 46,369 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock worth $276,705,000 after purchasing an additional 202,973 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock worth $196,412,000 after buying an additional 181,086 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 2.7%

DSGX opened at $100.60 on Thursday. The firm’s 50-day moving average price is $106.88 and its 200-day moving average price is $109.14. The company has a market cap of $8.63 billion, a P/E ratio of 60.60 and a beta of 0.87. The Descartes Systems Group has a 52-week low of $90.61 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million during the quarter, compared to analysts’ expectations of $169.60 million. During the same period in the prior year, the business posted $0.40 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate 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 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.