The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Has Consensus Target Price of $100.33

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $100.33.

A number of research analysts recently commented on the company. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday, September 4th. BMO Capital Markets lifted their price target on shares of The Descartes Systems Group from $82.00 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 13th. National Bank Financial boosted their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Scotia increased their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Friday, September 11th. Finally, Loop Capital restated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, October 8th.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $181,742,000. Janus Henderson Group PLC lifted its stake in The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after buying an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $141,403,000. Wellington Management Group LLP boosted its holdings in shares of The Descartes Systems Group by 640.7% in the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after buying an additional 1,179,345 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of The Descartes Systems Group during the second quarter worth $58,755,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 0.3%

Shares of DSGX opened at $91.17 on Friday. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $95.41. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 42.71 and a beta of 0.65. The stock’s 50-day moving average price is $82.83 and its 200 day moving average price is $74.90.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The firm had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.