The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $119.50.

Several brokerages recently commented on DSGX. Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 26th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. CIBC cut 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 note on Thursday, March 6th. Stephens reduced their price target on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company.

Hedge Funds Weigh In On The Descartes Systems Group

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

The Descartes Systems Group Trading Up 1.0 %

Shares of NASDAQ:DSGX opened at $101.74 on Friday. The stock has a market capitalization of $8.71 billion, a P/E ratio of 63.99 and a beta of 0.97. The stock’s 50-day moving average price is $106.38 and its 200-day moving average price is $110.19. The Descartes Systems Group has a 12-month low of $87.20 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. As a group, research 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.