The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $117.92.

DSGX has been the subject of a number of research reports. BMO Capital Markets increased their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. TD Securities lifted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company.

The Descartes Systems Group Stock Down 0.6 %

The Descartes Systems Group stock opened at $119.13 on Monday. The company has a 50 day moving average of $116.00 and a 200-day moving average of $107.07. The Descartes Systems Group has a twelve month low of $84.12 and a twelve month high of $122.88. The stock has a market capitalization of $10.19 billion, a PE ratio of 74.92 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter last year, the business earned $0.31 earnings per share. Equities analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in The Descartes Systems Group by 53.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 86,998 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of The Descartes Systems Group by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 111,351 shares of the technology company’s stock worth $10,784,000 after buying an additional 9,698 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of The Descartes Systems Group by 18.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,067 shares of the technology company’s stock worth $877,000 after buying an additional 1,443 shares during the period. Canada Pension Plan Investment Board grew its stake in The Descartes Systems Group by 59.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 148,151 shares of the technology company’s stock valued at $14,351,000 after buying an additional 55,100 shares during the last quarter. Finally, Sei Investments Co. grew its stake in The Descartes Systems Group by 18.8% in the 2nd quarter. Sei Investments Co. now owns 222,489 shares of the technology company’s stock valued at $21,546,000 after buying an additional 35,208 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.