The Descartes Systems Group (NASDAQ:DSGX) Sets New 1-Year Low – Here’s What Happened

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $63.91 and last traded at $64.5020, with a volume of 251906 shares traded. The stock had previously closed at $69.33.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. BMO Capital Markets cut their price objective on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Finally, Scotiabank reduced their target price on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Trading Down 5.1%

The company has a market capitalization of $5.66 billion, a PE ratio of 37.16 and a beta of 0.75. The business’s fifty day moving average is $84.41 and its two-hundred day moving average is $91.52.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Institutional Trading of The Descartes Systems Group

A number of institutional investors have recently made changes to their positions in DSGX. Quarry LP purchased a new position in shares of The Descartes Systems Group during the third quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in The Descartes Systems Group in the 3rd quarter worth approximately $28,000. Danske Bank A S purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.