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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have been assigned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $119.50.

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets dropped 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. Scotiabank raised their price objective on shares of 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. Barclays reduced their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. CIBC lowered their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded up $0.68 during midday trading on Wednesday, reaching $107.78. 15,354 shares of the stock were exchanged, compared to its average volume of 202,284. The Descartes Systems Group has a twelve month low of $89.00 and a twelve month high of $124.31. The stock has a market capitalization of $9.23 billion, a P/E ratio of 67.69 and a beta of 0.88. The company has a 50 day simple moving average of $102.47 and a 200 day simple moving average of $110.26.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, research 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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. raised its position in The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock worth $375,047,000 after acquiring an additional 54,341 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock worth $200,716,000 after acquiring an additional 101,290 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after purchasing an additional 326,643 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares during the last quarter. 77.73% of the stock is 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.