Morgan Stanley Begins Coverage on The Descartes Systems Group (NASDAQ:DSGX)

Equities research analysts at Morgan Stanley began coverage on shares of The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG in a research note issued to investors on Monday, MarketBeat reports. The firm set an "equal weight" rating and a $110.00 price target on the technology company's stock. Morgan Stanley's price objective points to a potential upside of 5.53% from the stock's previous close.

A number of other equities analysts have also weighed in on DSGX. Barclays cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada dropped their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Stephens dropped their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Scotiabank upped their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Trading Up 0.4%

Shares of NASDAQ:DSGX traded up $0.42 during midday trading on Monday, hitting $104.24. 264,718 shares of the stock were exchanged, compared to its average volume of 250,602. The stock has a market cap of $8.94 billion, a P/E ratio of 62.82 and a beta of 0.82. The Descartes Systems Group has a twelve month low of $90.61 and a twelve month high of $124.31. The company has a 50 day moving average price of $106.18 and a 200-day moving average price of $107.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company's revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in The Descartes Systems Group by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock valued at $719,370,000 after buying an additional 936,718 shares during the last quarter. Mackenzie Financial Corp boosted its stake in The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of The Descartes Systems Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock valued at $336,814,000 after purchasing an additional 46,369 shares in the last quarter. Fiera Capital Corp increased its holdings in The Descartes Systems Group by 8.0% in the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after buying an additional 202,973 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after buying an additional 181,086 shares during the last quarter. 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.