The Descartes Systems Group (NASDAQ:DSGX) Upgraded to Strong-Buy at TD Securities

Key Points

• TD Securities has upgraded The Descartes Systems Group (NASDAQ:DSGX) to a "strong-buy" rating, indicating increased confidence in the company's stock.
• Despite the upgrade, several research firms have varying opinions, with Weiss Ratings maintaining a "hold" and Royal Bank of Canada lowering its price target from $130.00 to $126.00.
• The Descartes Systems Group reported a 10% year-over-year revenue increase for the most recent quarter, but missed earnings per share estimates by $0.06.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG was upgraded by TD Securities to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also weighed in on DSGX. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Descartes Systems Group in a research note on Saturday, September 27th. Royal Bank Of Canada lowered 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. Barclays lowered 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 note on Thursday, June 5th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $93.90 on Thursday. The company has a market capitalization of $8.07 billion, a P/E ratio of 55.56 and a beta of 0.77. The Descartes Systems Group has a 52-week low of $91.00 and a 52-week high of $124.31. The company's 50 day moving average price is $101.02 and its 200-day moving average price is $103.38.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The firm had revenue of $178.98 million during the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently made changes to their positions in DSGX. Price T Rowe Associates Inc. MD lifted its position in shares of The Descartes Systems Group by 15.1% during the first 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 purchasing an additional 936,718 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 2.1% during the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company's stock valued at $400,969,000 after purchasing an additional 80,309 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of The Descartes Systems Group by 1.4% during the first 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 lifted its position 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 purchasing an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of 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 valued at $196,412,000 after purchasing an additional 181,086 shares in the last quarter. Institutional investors 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.

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