The Descartes Systems Group (NASDAQ:DSGX) Upgraded at Barclays

Barclays upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an underweight rating to an equal weight rating in a report published on Friday morning, Marketbeat Ratings reports. They currently have $125.00 price objective on the technology company’s stock, up from their previous price objective of $88.00.

Several other analysts have also issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets raised their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $109.25.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $111.41 on Friday. The Descartes Systems Group has a fifty-two week low of $79.21 and a fifty-two week high of $117.24. The firm’s fifty day moving average price is $104.91 and its 200-day moving average price is $100.11. The stock has a market cap 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 released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. Bessemer Group Inc. boosted its holdings in The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after acquiring an additional 11,025 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $527,000. Public Employees Retirement Association of Colorado increased its position in shares of The Descartes Systems Group by 7.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 280,232 shares of the technology company’s stock valued at $25,650,000 after buying an additional 20,230 shares during the period. Acadian Asset Management LLC raised its stake in The Descartes Systems Group by 527.7% in the first quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock worth $5,398,000 after buying an additional 49,600 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in The Descartes Systems Group in the third quarter worth about $2,308,000. 77.73% of the stock is currently owned by 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.