The Descartes Systems Group (NASDAQ:DSGX) Raised to Buy at StockNews.com

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research analysts have also commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. BMO Capital Markets raised their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $88.00 to $125.00 in a report on Friday. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.25.

The Descartes Systems Group Stock Down 0.5 %

DSGX stock opened at $111.41 on Friday. The firm’s 50-day simple moving average is $104.91 and its 200 day simple moving average is $100.07. The stock has a market cap of $9.52 billion, a PE ratio of 75.28 and a beta of 0.97. The Descartes Systems Group has a fifty-two week low of $79.21 and a fifty-two week high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period last year, the firm posted $0.32 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently modified their holdings of the stock. Intact Investment Management Inc. acquired a new stake in The Descartes Systems Group during the 2nd quarter worth about $61,000. Blue Trust Inc. raised its holdings in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the period. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $77,000. Park Place Capital Corp boosted its stake in The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 143.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.