The Descartes Systems Group (NASDAQ:DSGX) Hits New 12-Month High – Here’s Why

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $117.25 and last traded at $117.10, with a volume of 18169 shares traded. The stock had previously closed at $116.08.

Analyst Ratings Changes

DSGX has been the subject of a number of research reports. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Scotiabank upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Stock Up 1.0 %

The stock has a market capitalization of $10.02 billion, a PE ratio of 79.34 and a beta of 0.97. The company’s fifty day moving average price is $106.61 and its 200-day moving average price is $100.73.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 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 analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Large investors have recently made changes to their positions in the stock. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the 2nd quarter worth approximately $61,000. Blue Trust Inc. increased its position in The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the last quarter. Andra AP fonden bought a new position in The Descartes Systems Group in the second quarter valued at about $77,000. Park Place Capital Corp boosted its position in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of The Descartes Systems Group by 143.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after purchasing an additional 704 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.