The Descartes Systems Group (NASDAQ:DSGX) Given New $125.00 Price Target at Scotiabank

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective hoisted by equities researchers at Scotiabank from $120.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target indicates a potential upside of 5.29% from the stock’s current price.

DSGX has been the subject of a number of other reports. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada increased their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.17.

The Descartes Systems Group Stock Performance

DSGX opened at $118.72 on Wednesday. The Descartes Systems Group has a 52 week low of $79.21 and a 52 week high of $122.22. The company has a fifty day moving average price of $109.34 and a two-hundred day moving average price of $101.92. The firm has a market capitalization of $10.15 billion, a PE ratio of 74.67 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.82%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Equities analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DSGX. Intact Investment Management Inc. bought a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $61,000. Blue Trust Inc. lifted its stake in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares during the period. Andra AP fonden bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $77,000. Whittier Trust Co. of Nevada Inc. boosted its position in The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after acquiring an additional 704 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in The Descartes Systems Group by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after purchasing an additional 279 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.