The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $102.5385.

Several brokerages recently issued reports on DSGX. Raymond James Financial cut their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $100.00 to $90.00 in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce upped their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Finally, Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th.

The Descartes Systems Group Stock Up 6.3%

Shares of NASDAQ:DSGX opened at $75.59 on Friday. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $109.00. The firm has a market cap of $6.48 billion, a P/E ratio of 37.80 and a beta of 0.64. The business has a fifty day simple moving average of $71.80 and a 200 day simple moving average of $72.12.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, equities research analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors have recently added to or reduced their stakes in DSGX. AXA S.A. lifted its position in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its stake in The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after purchasing an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares during the period. GAMMA Investing LLC raised its stake in The Descartes Systems Group by 18.7% during the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock worth $92,000 after acquiring an additional 165 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of The Descartes Systems Group by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after purchasing an additional 177 shares during the period. Institutional investors own 77.73% of the company’s stock.

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.