The Descartes Systems Group (NASDAQ:DSGX) Upgraded to Strong-Buy at TD Securities

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by TD Securities to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on DSGX. Wall Street Zen raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Descartes Systems Group in a report on Saturday, September 27th. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an “equal weight” rating and a $110.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.80.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $93.90 on Thursday. The company’s 50-day moving average is $101.02 and its 200 day moving average is $103.38. The company has a market capitalization of $8.07 billion, a P/E ratio of 55.56 and a beta of 0.77. The Descartes Systems Group has a fifty-two week low of $91.00 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The Descartes Systems Group’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. As a group, research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 42.1% in the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after buying an additional 262 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its holdings in shares of The Descartes Systems Group by 2.8% in the second quarter. Reynders McVeigh Capital Management LLC now owns 55,120 shares of the technology company’s stock worth $5,603,000 after buying an additional 1,485 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of The Descartes Systems Group by 186.1% in the second quarter. Osaic Holdings Inc. now owns 5,846 shares of the technology company’s stock worth $591,000 after buying an additional 3,803 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of The Descartes Systems Group by 4.1% in the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after buying an additional 143 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of The Descartes Systems Group by 29.7% in the second quarter. Squarepoint Ops LLC now owns 9,352 shares of the technology company’s stock worth $951,000 after buying an additional 2,144 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other 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.