The Descartes Systems Group (NASDAQ:DSGX) Upgraded at StockNews.com

StockNews.com upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a buy rating in a research report report published on Wednesday morning.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada raised their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Loop Capital began coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, Scotiabank upped their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Stock Down 1.4 %

DSGX opened at $115.83 on Wednesday. The business has a fifty day simple moving average of $116.25 and a 200-day simple moving average of $107.53. The firm has a market cap of $9.91 billion, a PE ratio of 72.85 and a beta of 0.99. The Descartes Systems Group has a fifty-two week low of $84.12 and a fifty-two week high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period last year, the company posted $0.31 EPS. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its stake in shares of The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after buying an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. lifted its position in The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after acquiring an additional 219,736 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in The Descartes Systems Group by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock valued at $75,498,000 after acquiring an additional 102,208 shares during the period. Lord Abbett & CO. LLC grew its position in shares of The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of The Descartes Systems Group in the fourth quarter worth about $7,939,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.