The Descartes Systems Group Inc. (DSGX) Receives “Outperform” Rating from RBC Capital Markets

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The Descartes Systems Group Inc. (NASDAQ:DSGX)‘s stock had its “outperform” rating restated by stock analysts at RBC Capital Markets in a note issued to investors on Friday. They currently have a $25.00 price target on the stock, up from their prior price target of $23.00. RBC Capital Markets’ price target points to a potential upside of 20.95% from the company’s current price.
Several other research analysts have also recently commented on the stock. Morgan Stanley restated a “hold” rating and issued a $23.00 target price on shares of The Descartes Systems Group in a research report on Friday. Royal Bank Of Canada upped their target price on shares of The Descartes Systems Group from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday. Canaccord Genuity restated a “buy” rating on shares of The Descartes Systems Group in a research report on Thursday, May 26th. Barclays PLC upped their target price on shares of The Descartes Systems Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets restated a “hold” rating and issued a $22.00 target price on shares of The Descartes Systems Group in a research report on Friday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.75.
Shares of The Descartes Systems Group (NASDAQ:DSGX) traded down 4.13% on Friday, hitting $20.67. 52,443 shares of the stock were exchanged. The firm’s 50-day moving average is $20.58 and its 200-day moving average is $19.32. The company has a market cap of $1.57 billion, a P/E ratio of 72.02 and a beta of 0.83. The Descartes Systems Group has a one year low of $15.01 and a one year high of $22.02.

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A number of hedge funds have added to or reduced their stakes in DSGX. Bank of Montreal Can acquired a new stake in The Descartes Systems Group during the second quarter valued at approximately $99,747,000. Van Berkom & Associates Inc. raised its stake in The Descartes Systems Group by 0.9% in the second quarter. Van Berkom & Associates Inc. now owns 935,580 shares of the company’s stock valued at $17,771,000 after buying an additional 8,000 shares in the last quarter. Arrowpoint Asset Management LLC raised its stake in The Descartes Systems Group by 5.9% in the fourth quarter. Arrowpoint Asset Management LLC now owns 892,556 shares of the company’s stock valued at $17,923,000 after buying an additional 49,598 shares in the last quarter. Wellington Management Group LLP acquired a new stake in The Descartes Systems Group during the first quarter valued at approximately $13,285,000. Finally, Addenda Capital Inc. raised its stake in The Descartes Systems Group by 0.9% in the first quarter. Addenda Capital Inc. now owns 487,660 shares of the company’s stock valued at $9,533,000 after buying an additional 4,184 shares in the last quarter. 78.47% of the stock is owned by institutional investors and hedge funds.
About The Descartes Systems Group
The Descartes Systems Group Inc (Descartes) is a global provider of on-demand, cloud-based software-as-a-service (SaaS) solutions. The Company is focused on logistics and supply chain management business processes. Customers use its modular, SaaS solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; file customs and security documents for imports and exports; research and perform trade tariff and duty calculations and complete other logistics processes.

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