Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) PT at $116.20

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given an average recommendation of “Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $116.20.

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, December 1st. CIBC reduced their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $106.00 to $105.00 in a research report on Monday, January 12th. Finally, Scotiabank dropped their price objective on The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DSGX. Goldman Sachs Group Inc. boosted its holdings in shares of The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after acquiring an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares during the last quarter. GAMMA Investing LLC raised its position in The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares during the last quarter. Hilltop National Bank acquired a new stake in The Descartes Systems Group during the 2nd quarter worth $215,000. Finally, Shell Asset Management Co. grew its position in The Descartes Systems Group by 85.2% during the 2nd quarter. Shell Asset Management Co. now owns 17,994 shares of the technology company’s stock worth $1,824,000 after purchasing an additional 8,280 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $74.76 on Friday. The Descartes Systems Group has a 12 month low of $74.00 and a 12 month high of $124.31. The firm has a market capitalization of $6.43 billion, a PE ratio of 42.24 and a beta of 0.75. The business’s fifty day moving average price is $86.35 and its 200 day moving average price is $93.36.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period in the previous year, the business earned $0.42 EPS. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate 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.