StockNews.com Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Buy

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on DSGX. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Stock Down 0.5 %

DSGX stock traded down $0.56 during trading on Friday, hitting $111.41. The company had a trading volume of 249,281 shares, compared to its average volume of 153,009. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $117.24. The company has a 50 day simple moving average of $104.91 and a 200-day simple moving average of $100.02. The firm has a market capitalization of $9.52 billion, a P/E ratio of 75.28 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the business posted $0.32 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. Sell-side analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Avior Wealth Management LLC increased its stake in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after purchasing an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of The Descartes Systems Group by 3.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock worth $388,000 after buying an additional 137 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after buying an additional 158 shares in the last quarter. Assetmark Inc. raised its position in The Descartes Systems Group by 3.5% during the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after acquiring an additional 197 shares during the period. Finally, Park Place Capital Corp increased its stake in shares of The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.