The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Rating of “Moderate Buy” from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $120.33.

DSGX has been the subject of several analyst reports. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Loop Capital initiated coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price for the company. CIBC reduced their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Royal Bank of Canada lowered their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, TD Securities increased their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in the business. Assetmark Inc. raised its position in The Descartes Systems Group by 3.5% in the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares during the period. Versor Investments LP acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $278,000. Aigen Investment Management LP purchased a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $276,000. Cumberland Partners Ltd lifted its position in The Descartes Systems Group by 3.7% during the 3rd quarter. Cumberland Partners Ltd now owns 85,903 shares of the technology company’s stock worth $8,849,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in The Descartes Systems Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after acquiring an additional 19,002 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 4.0 %

The Descartes Systems Group stock opened at $96.40 on Tuesday. The stock has a 50-day moving average price of $114.29 and a 200 day moving average price of $110.25. The Descartes Systems Group has a 52 week low of $87.20 and a 52 week high of $124.31. The stock has a market cap of $8.25 billion, a PE ratio of 60.63 and a beta of 0.99.

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