Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $103.00

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $103.00.

A number of research analysts have recently issued reports on DSGX shares. TD Securities lifted their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays lifted their price target on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, September 5th. CIBC increased their price objective on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Scotiabank lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Finally, Raymond James upped their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, May 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DSGX. Price T Rowe Associates Inc. MD lifted its position in The Descartes Systems Group by 3.8% during 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 buying an additional 278,796 shares in the last quarter. Vanguard Group Inc. lifted its position in The Descartes Systems Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in The Descartes Systems Group by 2.2% during the second quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock worth $301,764,000 after buying an additional 66,645 shares in the last quarter. Fiera Capital Corp lifted its position in The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after buying an additional 81,263 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after buying an additional 91,301 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

DSGX stock opened at $103.03 on Tuesday. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $104.71. The business has a 50-day moving average price of $98.94 and a 200 day moving average price of $95.79. The company has a market capitalization of $8.80 billion, a P/E ratio of 73.59 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. On average, analysts anticipate that The Descartes Systems Group will post 1.67 earnings per share for the current fiscal 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.