Descartes Systems Group Inc (NASDAQ:DSGX) Receives Consensus Rating of “Hold” from Brokerages

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Shares of Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $59.67.

Several brokerages have weighed in on DSGX. BMO Capital Markets raised their price objective on Descartes Systems Group from $47.00 to $61.00 and gave the company a “market perform” rating in a research note on Thursday, September 10th. Royal Bank of Canada lifted their target price on Descartes Systems Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Scotiabank lifted their target price on Descartes Systems Group from $48.00 to $58.00 and gave the stock a “sector outperform” rating in a research note on Thursday, September 10th. TD Securities lifted their target price on Descartes Systems Group from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, Canaccord Genuity lifted their target price on Descartes Systems Group from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 11th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jarislowsky Fraser Ltd grew its holdings in Descartes Systems Group by 0.9% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 4,480,254 shares of the technology company’s stock valued at $235,756,000 after buying an additional 39,607 shares in the last quarter. Bank of Montreal Can grew its holdings in Descartes Systems Group by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 4,259,422 shares of the technology company’s stock valued at $234,397,000 after buying an additional 140,118 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Descartes Systems Group by 12.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,478,135 shares of the technology company’s stock valued at $85,301,000 after buying an additional 277,610 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Descartes Systems Group by 8.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,409,028 shares of the technology company’s stock valued at $82,847,000 after buying an additional 197,445 shares in the last quarter. Finally, Echo Street Capital Management LLC grew its holdings in Descartes Systems Group by 12.5% during the 1st quarter. Echo Street Capital Management LLC now owns 1,561,857 shares of the technology company’s stock valued at $53,746,000 after buying an additional 173,171 shares in the last quarter. 79.81% of the stock is owned by institutional investors.

NASDAQ:DSGX traded down $1.93 during trading hours on Monday, hitting $55.84. 126,869 shares of the company traded hands, compared to its average volume of 166,391. The firm’s 50-day simple moving average is $55.93 and its 200-day simple moving average is $48.33. Descartes Systems Group has a one year low of $24.35 and a one year high of $63.11. The company has a market cap of $4.72 billion, a PE ratio of 113.96 and a beta of 1.10.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 9th. The technology company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Descartes Systems Group had a return on equity of 5.16% and a net margin of 12.73%. The business had revenue of $84.00 million for the quarter, compared to analysts’ expectations of $81.64 million. During the same period last year, the business earned $0.10 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Descartes Systems Group will post 0.55 earnings per share for the current fiscal year.

About Descartes Systems Group

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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