The Descartes Systems Group (NASDAQ:DSGX) Upgraded by StockNews.com to “Buy” Rating

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently weighed in on DSGX. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $88.00 to $125.00 in a report on Friday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Stock Down 0.5 %

DSGX traded down $0.56 during trading on Friday, hitting $111.41. 249,281 shares of the company traded hands, compared to its average volume of 153,009. The firm has a market cap of $9.52 billion, a P/E ratio of 75.28 and a beta of 0.97. The Descartes Systems Group has a one year low of $79.21 and a one year high of $117.24. The stock’s fifty day moving average is $104.91 and its 200 day moving average is $100.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, equities research analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors have recently bought and sold shares of the business. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group during the second quarter worth approximately $61,000. Blue Trust Inc. increased its position in The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the last quarter. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group in the second quarter valued at $77,000. Park Place Capital Corp lifted its holdings in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after acquiring an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of The Descartes Systems Group by 143.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares during the period. Institutional investors own 77.73% of the company’s stock.

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.