The Descartes Systems Group (NASDAQ:DSGX) Upgraded by CIBC to Sector Outperform

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has $101.00 price target on the technology company’s stock, up from their previous price target of $96.50.

Several other research firms have also recently issued reports on DSGX. Raymond James lifted their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a report on Thursday, March 7th. BMO Capital Markets boosted their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. Scotiabank raised their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company a sector outperform rating in a report on Thursday, March 7th. StockNews.com raised shares of The Descartes Systems Group from a hold rating to a buy rating in a report on Wednesday, April 10th. Finally, Barclays raised their price target on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the stock an underweight rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $98.44.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $90.13 on Tuesday. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $94.54. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 67.26 and a beta of 0.94. The stock has a 50 day simple moving average of $89.70 and a 200-day simple moving average of $83.66.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. During the same period in the prior year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in The Descartes Systems Group by 20.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after purchasing an additional 1,834,084 shares during the last quarter. Vanguard Group Inc. raised its position in shares of The Descartes Systems Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock valued at $260,312,000 after buying an additional 31,078 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in The Descartes Systems Group by 0.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock valued at $221,675,000 after acquiring an additional 20,875 shares during the last quarter. Durable Capital Partners LP increased its stake in The Descartes Systems Group by 60.6% during the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after acquiring an additional 975,727 shares during the last quarter. Finally, Fiera Capital Corp raised its position in The Descartes Systems Group by 9.3% in the fourth quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock valued at $204,169,000 after purchasing an additional 206,193 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.