The Descartes Systems Group’s (DSGX) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $130.00 target price on the technology company’s stock.

DSGX has been the topic of a number of other reports. Barclays reduced their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. CIBC dropped their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. TD Securities raised their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Finally, StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $100.24 on Friday. The business has a fifty day moving average of $110.36 and a two-hundred day moving average of $110.33. The Descartes Systems Group has a 52-week low of $87.20 and a 52-week high of $124.31. The stock has a market cap of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. Mather Group LLC. raised its holdings in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. GeoWealth Management LLC raised its stake in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in The Descartes Systems Group during the fourth quarter worth $43,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the fourth quarter valued at $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in The Descartes Systems Group during the 4th quarter worth about $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.