Canaccord Genuity reaffirmed their buy rating on shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report issued on Thursday morning, BenzingaRatingsTable reports. The firm currently has a $48.00 price target on the technology company’s stock, up from their prior price target of $44.00.
Several other equities research analysts also recently issued reports on DSGX. BidaskClub raised shares of Descartes Systems Group from a hold rating to a buy rating in a research report on Saturday, November 23rd. Barclays set a $47.00 target price on shares of Descartes Systems Group and gave the stock a buy rating in a research note on Friday, November 1st. Zacks Investment Research cut Descartes Systems Group from a buy rating to a hold rating in a report on Monday, November 25th. Wolfe Research started coverage on Descartes Systems Group in a research note on Thursday, August 22nd. They issued an outperform rating and a $43.00 price target on the stock. Finally, ValuEngine cut Descartes Systems Group from a buy rating to a hold rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $44.73.
Shares of NASDAQ DSGX traded up $0.51 during mid-day trading on Thursday, reaching $41.38. 139,537 shares of the company’s stock were exchanged, compared to its average volume of 111,248. Descartes Systems Group has a twelve month low of $25.19 and a twelve month high of $43.76. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 103.45 and a beta of 0.69. The business has a fifty day simple moving average of $40.61 and a 200 day simple moving average of $38.50.
Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Descartes Systems Group had a return on equity of 5.28% and a net margin of 10.58%. The business had revenue of $83.00 million during the quarter, compared to analyst estimates of $82.62 million. During the same period in the previous year, the firm earned $0.10 EPS. Descartes Systems Group’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts predict that Descartes Systems Group will post 0.41 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in DSGX. Primecap Management Co. CA grew its stake in Descartes Systems Group by 63.4% in the second quarter. Primecap Management Co. CA now owns 7,211,500 shares of the technology company’s stock valued at $266,465,000 after purchasing an additional 2,798,500 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Descartes Systems Group in the 2nd quarter valued at approximately $64,199,000. Price T Rowe Associates Inc. MD grew its stake in shares of Descartes Systems Group by 14.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,402,856 shares of the technology company’s stock valued at $495,393,000 after buying an additional 1,697,992 shares in the last quarter. Echo Street Capital Management LLC increased its holdings in Descartes Systems Group by 152.7% during the second quarter. Echo Street Capital Management LLC now owns 1,041,372 shares of the technology company’s stock worth $38,528,000 after buying an additional 629,283 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Descartes Systems Group by 78.5% during the second quarter. Morgan Stanley now owns 986,672 shares of the technology company’s stock worth $36,459,000 after buying an additional 433,799 shares during the last quarter. 79.34% of the stock is currently owned by institutional investors and hedge funds.
Descartes Systems Group Company Profile
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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