The Descartes Systems Group (NASDAQ:DSGX) Sets New 12-Month High at $95.65

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.65 and last traded at $95.56, with a volume of 71225 shares changing hands. The stock had previously closed at $91.64.

Analysts Set New Price Targets

DSGX has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $110.00 price target on shares of The Descartes Systems Group in a report on Thursday, April 11th. Scotiabank lifted their price target on shares of 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. Raymond James lifted their price target on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. CIBC upgraded shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $96.50 to $101.00 in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Trading Up 3.6 %

The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 68.39 and a beta of 0.94. The stock’s 50-day moving average price is $89.72 and its 200-day moving average price is $83.95.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after acquiring an additional 154,110 shares in the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 5.6% in the 3rd quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock valued at $163,085,000 after acquiring an additional 117,611 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of The Descartes Systems Group by 37.7% in the 3rd quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock valued at $8,048,000 after acquiring an additional 30,010 shares in the last quarter. Legal & General Group Plc increased its stake in shares of The Descartes Systems Group by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 413,741 shares of the technology company’s stock valued at $30,506,000 after acquiring an additional 12,312 shares in the last quarter. Finally, Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in The Descartes Systems Group during the 3rd quarter valued at $2,693,000. Institutional investors own 77.73% of the company’s stock.

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.