The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $105.4545.

A number of brokerages recently weighed in on DSGX. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Morgan Stanley decreased their price target on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Scotiabank decreased their price target on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. Barclays decreased their price target on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Finally, Canaccord Genuity Group decreased their price objective on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after buying an additional 69,260 shares during the period. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after buying an additional 56,069 shares during the period. Fiera Capital Corp increased its position in shares of The Descartes Systems Group by 10.2% during the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after buying an additional 276,329 shares during the period. Janus Henderson Group PLC increased its position in shares of The Descartes Systems Group by 9.0% during 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 buying an additional 203,614 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of The Descartes Systems Group by 74.3% during 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 buying an additional 743,104 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.7%

DSGX stock opened at $67.70 on Friday. The company’s 50 day moving average is $71.03 and its 200 day moving average is $77.66. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 36.40 and a beta of 0.65. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million for the quarter, compared to analysts’ expectations of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. As a group, sell-side analysts forecast that The Descartes Systems Group will post 2.62 EPS for the current fiscal 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.