Scotiabank Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price boosted by Scotiabank from $125.00 to $127.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price suggests a potential upside of 20.33% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Loop Capital assumed 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. CIBC dropped their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays lowered their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Royal Bank of Canada cut their target price on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $105.54 on Wednesday. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 66.38 and a beta of 0.99. The Descartes Systems Group has a 1 year low of $87.20 and a 1 year high of $124.31. The company’s 50 day simple moving average is $111.31 and its 200 day simple moving average is $110.23.

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

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in The Descartes Systems Group by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock worth $904,000 after acquiring an additional 438 shares during the period. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in The Descartes Systems Group by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock valued at $1,758,000 after purchasing an additional 345 shares in the last quarter. Sone Capital Management LLC purchased a new stake in The Descartes Systems Group during the 4th quarter worth approximately $4,754,000. Finally, Squarepoint Ops LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at approximately $712,000. 77.73% of the stock is currently owned by hedge funds and other 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.