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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have received a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $123.40.

A number of equities analysts have issued reports on the stock. CIBC cut their target price on shares of 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 dropped their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Stephens cut 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, April 9th. BMO Capital Markets lowered their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Finally, Barclays dropped their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently modified their holdings of DSGX. Price T Rowe Associates Inc. MD increased its stake in The Descartes Systems Group by 15.1% during 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 period. Mackenzie Financial Corp boosted its holdings in shares of The Descartes Systems Group by 130.4% in the fourth 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock valued at $336,814,000 after acquiring an additional 46,369 shares in the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after acquiring an additional 202,973 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after purchasing an additional 181,086 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $98.96 on Thursday. The stock has a market capitalization of $8.47 billion, a PE ratio of 59.61 and a beta of 0.87. The business's fifty day moving average price is $107.03 and its 200 day moving average price is $109.75. The Descartes Systems Group has a 12-month low of $90.61 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period last year, the company posted $0.40 earnings per share. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

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.

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