The Descartes Systems Group (NASDAQ:DSGX) Earns “Outperform” Rating from Royal Bank of Canada

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They presently have a $130.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 29.69% from the stock’s previous close.

Several other research firms have also weighed in on DSGX. Stephens decreased their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC dropped their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Loop Capital began coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Finally, Scotiabank upped 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 note on Wednesday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.50.

The Descartes Systems Group Stock Down 1.4 %

The Descartes Systems Group stock opened at $100.24 on Friday. The Descartes Systems Group has a 52-week low of $87.20 and a 52-week high of $124.31. The firm’s fifty day moving average is $110.36 and its 200 day moving average is $110.33. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DSGX. EverSource Wealth Advisors LLC boosted its position in The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after purchasing an additional 108 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. Shell Asset Management Co. grew its position in shares of The Descartes Systems Group by 1.8% in the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company’s stock worth $1,104,000 after buying an additional 172 shares during the last quarter. Mather Group LLC. raised its stake in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Finally, Allworth Financial LP lifted its position in The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares during the last quarter. 77.73% of the stock is currently 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.