The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Equal Weight at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $125.00 target price on the technology company’s stock, up from their prior target price of $88.00. Barclays‘s target price would suggest a potential upside of 12.20% from the stock’s current price.

A number of other brokerages have also issued reports on DSGX. BMO Capital Markets lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $109.25.

The Descartes Systems Group Stock Down 0.5 %

Shares of DSGX stock opened at $111.41 on Friday. The Descartes Systems Group has a 12-month low of $79.21 and a 12-month high of $117.24. The firm has a fifty day moving average of $104.91 and a 200-day moving average of $100.07. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 75.28 and a beta of 0.97.

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

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its stake in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after acquiring an additional 556,408 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of The Descartes Systems Group in the first quarter valued at about $47,481,000. Price T Rowe Associates Inc. MD lifted its stake in shares of The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after buying an additional 278,796 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth about $20,608,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of The Descartes Systems Group during the 1st quarter worth about $19,264,000. 77.73% of the stock is owned by institutional investors and hedge funds.

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.