The Descartes Systems Group (NASDAQ:DSGX) Upgraded by CIBC to “Sector Outperform”

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by investment analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $101.00 price target on the technology company’s stock, up from their previous price target of $96.50. CIBC’s target price would indicate a potential upside of 11.55% from the stock’s previous close.

DSGX has been the topic of several other research reports. Scotiabank upped their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a report on Thursday, March 7th. TD Securities upped their price target on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Wednesday, January 10th. Stephens upped their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, Barclays lifted their price target on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $90.54 on Tuesday. The stock’s 50-day moving average is $89.67 and its 200 day moving average is $83.61. The Descartes Systems Group has a one year low of $69.59 and a one year high of $94.54. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 67.57 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same quarter last year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts expect that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in The Descartes Systems Group by 20.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after buying an additional 1,834,084 shares during the last quarter. Vanguard Group Inc. increased its position in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock valued at $260,312,000 after acquiring an additional 31,078 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of The Descartes Systems Group by 0.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock valued at $221,675,000 after acquiring an additional 20,875 shares during the last quarter. Durable Capital Partners LP lifted its holdings in The Descartes Systems Group by 60.6% during the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after acquiring an additional 975,727 shares during the period. Finally, Fiera Capital Corp boosted its position in The Descartes Systems Group by 9.3% in the fourth quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock worth $204,169,000 after purchasing an additional 206,193 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other 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.