The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $101.00 price objective on the technology company’s stock, up from their previous price objective of $96.50.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of The Descartes Systems Group from a hold rating to a buy rating in a research note on Wednesday, April 10th. Wolfe Research upgraded The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 price objective on the stock in a research report on Wednesday, January 10th. TD Securities raised their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the company a buy rating in a research note on Thursday, March 7th. Barclays boosted their target price on The Descartes Systems Group from $71.00 to $75.00 and gave the company an underweight rating in a research report on Tuesday, February 20th. Finally, Raymond James raised their price target on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $98.44.

The Descartes Systems Group Trading Up 0.2 %

Shares of DSGX stock opened at $90.32 on Tuesday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 67.40 and a beta of 0.94. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $94.54. The stock’s 50-day moving average price is $89.72 and its 200-day moving average price is $83.78.

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

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System increased its position in shares of The Descartes Systems Group by 1.6% during the first quarter. Maryland State Retirement & Pension System now owns 57,628 shares of the technology company’s stock worth $5,213,000 after acquiring an additional 886 shares during the period. Allspring Global Investments Holdings LLC grew its stake in The Descartes Systems Group by 27.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 546,425 shares of the technology company’s stock worth $50,014,000 after purchasing an additional 118,146 shares in the last quarter. Park Place Capital Corp increased its holdings in The Descartes Systems Group by 48.5% during the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after purchasing an additional 219 shares during the period. Quadrature Capital Ltd raised its position in The Descartes Systems Group by 13.6% during the 4th quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after purchasing an additional 18,700 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of The Descartes Systems Group in the 4th quarter worth $32,000. 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.