The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $76.22.
Several equities analysts have recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of The Descartes Systems Group from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, May 27th. Stephens decreased their price objective on shares of The Descartes Systems Group to $80.00 in a report on Friday, June 3rd. Canaccord Genuity Group upped their target price on shares of The Descartes Systems Group from $74.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, September 8th. Canaccord Genuity Group upped their target price on shares of The Descartes Systems Group from $74.00 to $77.00 in a research note on Thursday, September 8th. Finally, TD Securities upped their target price on shares of The Descartes Systems Group from $84.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, September 8th.
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Institutional Investors Weigh In On The Descartes Systems Group
A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of The Descartes Systems Group by 7.2% in the 2nd quarter. Van ECK Associates Corp now owns 2,217 shares of the technology company's stock valued at $138,000 after purchasing an additional 149 shares during the last quarter. Pendal Group Ltd increased its position in shares of The Descartes Systems Group by 1.7% in the 2nd quarter. Pendal Group Ltd now owns 10,832 shares of the technology company's stock valued at $673,000 after purchasing an additional 176 shares during the last quarter. New Century Advisors LLC increased its position in shares of The Descartes Systems Group by 74.1% in the 1st quarter. New Century Advisors LLC now owns 416 shares of the technology company's stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. MGO One Seven LLC increased its position in shares of The Descartes Systems Group by 5.9% in the 2nd quarter. MGO One Seven LLC now owns 3,411 shares of the technology company's stock valued at $212,000 after purchasing an additional 190 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of The Descartes Systems Group by 4.0% in the 2nd quarter. Raymond James Trust N.A. now owns 5,143 shares of the technology company's stock valued at $319,000 after purchasing an additional 196 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.
The Descartes Systems Group Stock Performance
Shares of DSGX stock opened at $62.65 on Friday. The firm's 50 day moving average price is $69.01 and its 200-day moving average price is $66.39. The Descartes Systems Group has a one year low of $56.19 and a one year high of $91.39. The firm has a market cap of $5.31 billion, a P/E ratio of 59.10 and a beta of 1.03.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The Descartes Systems Group had a net margin of 19.69% and a return on equity of 8.97%. The firm had revenue of $123.01 million for the quarter, compared to analyst estimates of $118.72 million. During the same period in the prior year, the business posted $0.27 EPS. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group will post 1.1 EPS for the current fiscal year.
The Descartes Systems Group Company Profile
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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.
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