The Descartes Systems Group (NASDAQ:DSGX) Earns Outperform Rating from Royal Bank of Canada

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG's stock had its "outperform" rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $130.00 price objective on the technology company's stock. Royal Bank of Canada's price target suggests a potential upside of 28.46% from the company's previous close.

A number of other equities research analysts have also issued reports on the stock. Barclays cut their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets cut their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Scotiabank boosted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Finally, Stephens reduced their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Five 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. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average price target of $120.50.

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The Descartes Systems Group Trading Up 0.4 %

NASDAQ DSGX traded up $0.37 during mid-day trading on Friday, reaching $101.20. 79,246 shares of the company's stock traded hands, compared to its average volume of 196,577. The Descartes Systems Group has a 1-year low of $87.20 and a 1-year high of $124.31. The company has a fifty day simple moving average of $110.06 and a 200-day simple moving average of $110.44. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 63.61 and a beta of 0.99.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DSGX. Mackenzie Financial Corp lifted its holdings in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares during the period. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after acquiring an additional 54,341 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of The Descartes Systems Group by 6.1% during 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of The Descartes Systems Group by 23.9% in the 4th 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. 77.73% of the stock is 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.