The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have been assigned an average rating of "Moderate Buy" from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $122.18.

Several brokerages recently issued reports on DSGX. CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Scotiabank lifted their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. Finally, Wall Street Zen downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th.

The Descartes Systems Group Stock Down 0.6%

NASDAQ:DSGX traded down $0.72 during trading hours on Friday, reaching $113.68. 247,262 shares of the stock were exchanged, compared to its average volume of 209,772. The stock has a market capitalization of $9.73 billion, a P/E ratio of 71.50 and a beta of 0.88. The Descartes Systems Group has a 52 week low of $89.00 and a 52 week high of $124.31. The firm has a 50 day simple moving average of $105.95 and a 200-day simple moving average of $110.79.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced 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 business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of The Descartes Systems Group by 14.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after purchasing an additional 108 shares during the period. Wealth Alliance LLC increased its position in shares of The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock valued at $232,000 after purchasing an additional 118 shares during the period. GeoWealth Management LLC grew its holdings in shares of The Descartes Systems Group by 63.2% in the 4th 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 last quarter. Alliance Wealth Advisors LLC UT grew its holdings in shares of The Descartes Systems Group by 4.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company's stock worth $349,000 after acquiring an additional 154 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of The Descartes Systems Group by 0.4% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock worth $4,282,000 after acquiring an additional 155 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.