The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $107.00 Average PT from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $105.4545.

DSGX has been the topic of several analyst reports. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $100.00 to $90.00 in a report on Thursday. Zacks Research lowered The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Morgan Stanley dropped their price objective on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Barclays dropped their price objective on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Finally, BMO Capital Markets dropped their price objective on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after purchasing an additional 69,260 shares during the period. Mackenzie Financial Corp grew its holdings in The Descartes Systems Group by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after purchasing an additional 56,069 shares during the period. Fiera Capital Corp grew its holdings in The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after purchasing an additional 276,329 shares during the period. Janus Henderson Group PLC grew its holdings in The Descartes Systems Group by 9.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,473,531 shares of the technology company’s stock valued at $216,952,000 after purchasing an additional 203,614 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in The Descartes Systems Group by 74.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after purchasing an additional 743,104 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $76.41 on Wednesday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 41.08 and a beta of 0.71. The Descartes Systems Group has a 52 week low of $62.56 and a 52 week high of $117.35. The business’s 50-day moving average price is $69.18 and its 200 day moving average price is $80.66.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The Descartes Systems Group’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Equities analysts expect that The Descartes Systems Group will post 1.64 EPS for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.