The Descartes Systems Group (NASDAQ:DSGX) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other equities analysts have also recently issued reports on the stock. Loop Capital began coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. TD Securities increased their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. BMO Capital Markets increased their target price 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. Finally, Scotiabank raised their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $115.83 on Wednesday. The company has a 50-day simple moving average of $116.25 and a 200-day simple moving average of $107.53. The Descartes Systems Group has a 52 week low of $84.12 and a 52 week high of $122.88. The firm has a market capitalization of $9.91 billion, a P/E ratio of 72.85 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 EPS 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 period in the prior year, the company posted $0.31 earnings per share. As a group, equities analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC grew its stake in shares of The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after purchasing an additional 117 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in The Descartes Systems Group by 3.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock worth $388,000 after buying an additional 137 shares in the last quarter. Mather Group LLC. boosted its position in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Allworth Financial LP increased its stake in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares during the period. Finally, Assetmark Inc. raised its position in shares of The Descartes Systems Group by 3.5% during the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.