The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $116.15 Consensus Price Target from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $116.15.

A number of equities analysts have recently issued reports on DSGX shares. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. Scotiabank increased their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of the company. Intact Investment Management Inc. purchased a new stake in The Descartes Systems Group in the 2nd quarter worth approximately $61,000. Blue Trust Inc. grew its position in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new position in The Descartes Systems Group in the second quarter valued at $77,000. Whittier Trust Co. of Nevada Inc. lifted its position in The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after buying an additional 704 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in The Descartes Systems Group by 28.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after buying an additional 279 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $113.60 on Thursday. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $122.88. The stock has a fifty day moving average price of $114.20 and a two-hundred day moving average price of $104.86. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 71.45 and a beta of 0.98.

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.