Scotiabank Increases The Descartes Systems Group (NASDAQ:DSGX) Price Target to $120.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective increased by Scotiabank from $104.00 to $120.00 in a research note published on Thursday, MarketBeat Ratings reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

A number of other research firms have also recently issued reports on DSGX. BMO Capital Markets increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Barclays increased their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Trading Down 0.4 %

Shares of The Descartes Systems Group stock opened at $104.17 on Thursday. The company has a market capitalization of $8.89 billion, a PE ratio of 74.41 and a beta of 0.97. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $108.02. The stock’s fifty day simple moving average is $101.64 and its 200 day simple moving average is $98.16.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Analysts predict that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. grew its holdings in The Descartes Systems Group by 7.0% during the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after purchasing an additional 11,025 shares during the period. Russell Investments Group Ltd. lifted its position in The Descartes Systems Group by 3.4% during the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock worth $24,043,000 after acquiring an additional 8,722 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in The Descartes Systems Group during the second quarter worth approximately $527,000. TD Asset Management Inc lifted its position in The Descartes Systems Group by 6.2% during the first quarter. TD Asset Management Inc now owns 820,432 shares of the technology company’s stock worth $75,114,000 after acquiring an additional 47,949 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in The Descartes Systems Group by 527.7% during the first quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock worth $5,398,000 after acquiring an additional 49,600 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

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.