The Descartes Systems Group (NASDAQ:DSGX) PT Raised to $115.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price raised by equities research analysts at Royal Bank of Canada from $110.00 to $115.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 14.74% from the company’s current price.

Several other equities analysts also recently commented on the stock. Redburn Atlantic began coverage on shares of The Descartes Systems Group in a research report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 target price on the stock. TD Securities increased their target price on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Scotiabank upped their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a report on Thursday, March 7th. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.30.

The Descartes Systems Group Stock Up 1.2 %

Shares of NASDAQ:DSGX opened at $100.23 on Friday. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $100.43. The company has a market cap of $8.55 billion, a P/E ratio of 74.80 and a beta of 0.91. The company’s fifty day moving average is $93.73 and its two-hundred day moving average is $87.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same period in the prior year, the business posted $0.34 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after buying an additional 278,796 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of The Descartes Systems Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of The Descartes Systems Group by 0.8% in the first quarter. Conestoga Capital Advisors LLC now owns 3,049,464 shares of the technology company’s stock valued at $279,117,000 after purchasing an additional 23,285 shares in the last quarter. Fiera Capital Corp increased 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 in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of The Descartes Systems Group by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after purchasing an additional 154,110 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

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.