The Descartes Systems Group (NASDAQ:DSGX) Raised to “Strong-Buy” at National Bank Financial

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by equities researchers at National Bank Financial to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

Several other research firms have also recently weighed in on DSGX. CIBC raised their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. TD Securities lifted their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday. Finally, Scotiabank upped their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.83.

The Descartes Systems Group Stock Performance

DSGX stock opened at $102.18 on Wednesday. The stock has a fifty day moving average of $99.17 and a 200-day moving average of $96.35. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 72.99 and a beta of 0.98. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $105.12.

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 Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter last year, the firm posted $0.32 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts predict that The Descartes Systems Group will post 1.67 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently made changes to their positions in DSGX. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at approximately $27,000. Central Pacific Bank Trust Division purchased a new position in The Descartes Systems Group during the first quarter valued at $28,000. Accent Capital Management LLC bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after buying an additional 429 shares during the period. Finally, Park Place Capital Corp increased its stake in shares of The Descartes Systems Group by 48.5% in the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after acquiring an additional 219 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.