Scotiabank Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $115.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lowered by Scotiabank from $127.00 to $115.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Scotiabank’s target price would suggest a potential upside of 21.32% from the company’s current price.

Several other equities analysts have also commented on the company. TD Cowen reissued a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday. Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $117.55.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX traded up $11.83 during midday trading on Thursday, hitting $94.79. 1,127,659 shares of the company’s stock traded hands, compared to its average volume of 413,032. The company has a market cap of $8.15 billion, a PE ratio of 56.02 and a beta of 0.74. The firm’s fifty day moving average price is $89.32 and its two-hundred day moving average price is $98.77. The Descartes Systems Group has a twelve month low of $78.88 and a twelve month high of $124.31.

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, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock valued at $719,370,000 after purchasing an additional 936,718 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of The Descartes Systems Group by 2.1% in the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after buying an additional 80,309 shares during the period. Vanguard Group Inc. raised its holdings in shares of The Descartes Systems Group by 3.3% during the third quarter. Vanguard Group Inc. now owns 3,533,392 shares of the technology company’s stock valued at $332,697,000 after acquiring an additional 111,492 shares during the period. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 10.2% during the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after acquiring an additional 276,329 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in The Descartes Systems Group by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock worth $196,412,000 after purchasing an additional 181,086 shares during the period. 77.73% of the stock is currently owned by institutional investors.

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.