The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG)‘s stock had its “buy” rating restated by Loop Capital in a report issued on Thursday, Benzinga reports. They currently have a $96.00 price target on the technology company’s stock. Loop Capital’s target price points to a potential upside of 18.01% from the company’s previous close.
Several other research firms have also issued reports on DSGX. National Bank Financial upped their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Weiss Ratings raised The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday, September 4th. Scotia raised their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Finally, Scotiabank boosted their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $99.67.
Check Out Our Latest Report on The Descartes Systems Group
The Descartes Systems Group Trading Up 1.6%
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last posted its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm had revenue of $198.12 million during the quarter, compared to analyst estimates of $197.54 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Equities analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in DSGX. Moody National Bank Trust Division purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $874,000. Versant Capital Management Inc boosted its holdings in The Descartes Systems Group by 9.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock worth $119,000 after buying an additional 129 shares during the period. Envestnet Asset Management Inc. grew its stake in The Descartes Systems Group by 9.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 143,645 shares of the technology company’s stock valued at $9,946,000 after buying an additional 11,828 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in The Descartes Systems Group by 85.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,045,632 shares of the technology company’s stock valued at $141,403,000 after acquiring an additional 944,877 shares during the period. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of The Descartes Systems Group during the second quarter worth $669,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
About The Descartes Systems Group
The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.
The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.
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