The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $120.50 Average PT from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $120.50.

A number of brokerages have weighed in on DSGX. Scotiabank increased their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Barclays cut their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday, March 28th.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $96.02 on Friday. The Descartes Systems Group has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The company has a market capitalization of $8.22 billion, a PE ratio of 60.39 and a beta of 0.97. The stock has a fifty day moving average of $108.14 and a two-hundred day moving average of $110.43.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. As a group, equities research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. GAMMA Investing LLC lifted its position in The Descartes Systems Group by 9,983.0% in the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company’s stock worth $5,134,000 after purchasing an additional 50,414 shares during the period. Moody National Bank Trust Division bought a new stake in shares of The Descartes Systems Group in the 1st quarter worth $1,986,000. Versant Capital Management Inc lifted its holdings in shares of The Descartes Systems Group by 2,013.5% in the first quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company’s stock valued at $111,000 after buying an additional 1,047 shares during the period. Wellington Management Group LLP boosted its stake in The Descartes Systems Group by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock valued at $904,000 after buying an additional 438 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings 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 acquiring an additional 2,800,492 shares during the period. 77.73% of the stock is currently owned by institutional investors.

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.