The Descartes Systems Group (NASDAQ:DSGX) Upgraded to Equal Weight 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 research note issued to investors on Friday morning, Marketbeat reports. They currently have $125.00 target price on the technology company’s stock, up from their prior target price of $88.00.

DSGX has been the topic of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. BMO Capital Markets increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Scotiabank increased their price objective on 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, National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Trading Down 0.5 %

Shares of NASDAQ DSGX traded down $0.56 during mid-day trading on Friday, reaching $111.41. 249,281 shares of the company’s stock were exchanged, compared to its average volume of 153,009. The Descartes Systems Group has a twelve month low of $79.21 and a twelve month high of $117.24. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 75.28 and a beta of 0.97. The business has a fifty day simple moving average of $104.91 and a 200 day simple moving average of $100.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (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 business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the previous year, the company posted $0.32 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intact Investment Management Inc. bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $61,000. Blue Trust Inc. grew its holdings in The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new position in The Descartes Systems Group during the second quarter worth approximately $77,000. Park Place Capital Corp raised its stake in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after buying an additional 212 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in The Descartes Systems Group by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock valued at $110,000 after buying an additional 600 shares during the period. 77.73% of the stock is 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.