Royal Bank of Canada Reaffirms Outperform Rating for The Descartes Systems Group (NASDAQ:DSGX)

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They currently have a $130.00 target price on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 29.19% from the company’s current price.

Several other analysts also recently issued reports on the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stephens cut their price target on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. TD Securities raised their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Barclays reduced their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Down 1.0 %

NASDAQ:DSGX traded down $1.00 during trading hours on Friday, reaching $100.63. 59,674 shares of the company’s stock were exchanged, compared to its average volume of 192,839. The company has a market capitalization of $8.61 billion, a P/E ratio of 63.28 and a beta of 0.99. The Descartes Systems Group has a 12 month low of $87.20 and a 12 month high of $124.31. The business’s 50-day simple moving average is $110.67 and its two-hundred day simple moving average is $110.20.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, sell-side analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors have recently made changes to their positions in DSGX. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after purchasing an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock valued at $200,716,000 after purchasing an additional 101,290 shares during the last quarter. Franklin Resources Inc. boosted its holdings in The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after purchasing an additional 326,643 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after buying an additional 639,848 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 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.