StockNews.com Initiates Coverage on The Descartes Systems Group (NASDAQ:DSGX)

StockNews.com initiated coverage on shares of The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) in a research note issued to investors on Thursday. The firm issued a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Stephens increased their price target on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the company an overweight rating in a report on Thursday, March 2nd. BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $71.00 to $78.00 and gave the company a market perform rating in a report on Thursday, March 2nd. Barclays reduced their price objective on shares of The Descartes Systems Group from $60.00 to $58.00 and set an underweight rating for the company in a report on Thursday, December 8th. TD Securities raised their price objective on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the stock a buy rating in a report on Friday, March 3rd. Finally, Raymond James raised their price objective on shares of The Descartes Systems Group from $71.00 to $73.00 and gave the stock a market perform rating in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has a consensus rating of Hold and an average price target of $78.78.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $77.40 on Thursday. The Descartes Systems Group has a fifty-two week low of $56.19 and a fifty-two week high of $79.08. The firm has a fifty day moving average price of $74.04 and a two-hundred day moving average price of $70.13. The company has a market cap of $6.57 billion, a PE ratio of 65.04 and a beta of 1.00.

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The Descartes Systems Group had a net margin of 21.05% and a return on equity of 9.74%. The firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $123.54 million. During the same period in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Analysts expect that The Descartes Systems Group will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of The Descartes Systems Group by 3.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,608,274 shares of the technology company’s stock worth $101,986,000 after purchasing an additional 59,789 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth about $1,677,000. Colony Group LLC increased its position in shares of The Descartes Systems Group by 36.9% during the 3rd quarter. Colony Group LLC now owns 16,486 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 4,442 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth about $235,000. Finally, NBW Capital LLC increased its position in shares of The Descartes Systems Group by 0.6% during the 3rd quarter. NBW Capital LLC now owns 81,082 shares of the technology company’s stock worth $5,144,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 80.35% of the company’s stock.

The Descartes Systems Group Company Profile

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The Descartes Systems Group, Inc provides on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. It uses modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community.