The Descartes Systems Group (NASDAQ:DSGX) Upgraded at CIBC

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a report published on Tuesday, MarketBeat Ratings reports. They currently have $101.00 price target on the technology company’s stock, up from their prior price target of $96.50.

Several other equities research analysts have also recently weighed in on DSGX. Raymond James boosted their price target on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. StockNews.com upgraded shares of The Descartes Systems Group from a hold rating to a buy rating in a report on Wednesday, April 10th. William Blair reiterated an outperform rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Scotiabank upped their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company a sector outperform rating in a research report on Thursday, March 7th. Finally, Barclays raised their price objective on The Descartes Systems Group from $71.00 to $75.00 and gave the company an underweight rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $98.44.

The Descartes Systems Group Stock Down 0.5 %

Shares of The Descartes Systems Group stock opened at $90.13 on Tuesday. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $94.54. The business has a 50-day moving average price of $89.70 and a 200-day moving average price of $83.66. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 67.26 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. On average, equities analysts expect 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 hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after purchasing an additional 1,834,084 shares during the period. Vanguard Group Inc. grew its stake in The Descartes Systems Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock worth $260,312,000 after acquiring an additional 31,078 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of The Descartes Systems Group by 0.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock worth $221,675,000 after acquiring an additional 20,875 shares during the period. Durable Capital Partners LP raised its stake in shares of The Descartes Systems Group by 60.6% during the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock valued at $189,381,000 after acquiring an additional 975,727 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of The Descartes Systems Group by 9.3% in the fourth quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock valued at $204,169,000 after purchasing an additional 206,193 shares during the period. Institutional investors own 77.73% of the company’s stock.

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.