The Descartes Systems Group (NASDAQ:DSGX) Raised to “Overweight” at Morgan Stanley

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Thursday,Finviz reports.

A number of other analysts also recently weighed in on DSGX. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. CIBC dropped their target price 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. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $106.00 to $105.00 in a research report on Monday. Finally, TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.20.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $86.49 on Thursday. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 48.86 and a beta of 0.74. The Descartes Systems Group has a one year low of $78.88 and a one year high of $124.31. The business’s 50-day simple moving average is $86.26 and its 200 day simple moving average is $95.12.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating 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 firm had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same quarter last year, the firm earned $0.42 EPS. The Descartes Systems Group’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts predict that The Descartes Systems Group will post 1.64 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Descartes Systems Group by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after buying an additional 660 shares during the period. Parallel Advisors LLC increased its position in The Descartes Systems Group by 35.1% in the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after buying an additional 152 shares during the period. Harbor Capital Advisors Inc. bought a new stake in The Descartes Systems Group in the second quarter valued at $1,230,000. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in The Descartes Systems Group by 4.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the technology company’s stock valued at $3,193,000 after buying an additional 1,300 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

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.