The Descartes Systems Group (NASDAQ:DSGX) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an equal weight rating to an overweight rating in a research note released on Thursday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the stock. CIBC reduced their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. Scotiabank reduced their price target on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 4th. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Finally, TD Cowen restated a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

The Descartes Systems Group Stock Down 0.8%

NASDAQ:DSGX opened at $87.89 on Thursday. The Descartes Systems Group has a 52-week low of $78.88 and a 52-week high of $124.31. The stock’s 50 day moving average price is $86.43 and its 200 day moving average price is $94.93. The company has a market capitalization of $7.56 billion, a PE ratio of 49.66 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. Quarry LP acquired a new stake in shares of The Descartes Systems Group in the third quarter worth $27,000. Mather Group LLC. acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at $28,000. Danske Bank A S acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at $34,000. Measured Wealth Private Client Group LLC acquired a new position in shares of The Descartes Systems Group during the third quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of The Descartes Systems Group by 267.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after acquiring an additional 401 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.