The Descartes Systems Group (TSE:DSG) Trading 7.4% Higher – Here’s What Happened

The Descartes Systems Group Inc. (TSE:DSG) (NASDAQ:DSGX)’s stock price shot up 7.4% on Thursday . The stock traded as high as C$112.19 and last traded at C$110.50. 51,069 shares changed hands during trading, a decline of 84% from the average session volume of 329,118 shares. The stock had previously closed at C$102.88.

Analysts Set New Price Targets

Separately, Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Three research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Strong Buy”.

The Descartes Systems Group Price Performance

The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.52. The firm has a market cap of C$9.62 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 2.39 and a beta of 0.14. The company’s 50-day moving average is C$98.12 and its 200-day moving average is C$105.05.

The Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported C$0.75 EPS for the quarter. The Descartes Systems Group had a return on equity of 10.76% and a net margin of 22.47%.The company had revenue of C$262.96 million during the quarter. Equities research analysts predict that The Descartes Systems Group Inc. will post 3.3498285 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Scott Pagan sold 20,163 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of C$90.83, for a total transaction of C$1,831,405.29. Following the completion of the transaction, the director owned 127,639 shares of the company’s stock, valued at approximately C$11,593,450.37. The trade was a 13.64% decrease in their position. Also, insider Edward Ryan sold 34,193 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of C$89.70, for a total transaction of C$3,067,112.10. Following the completion of the sale, the insider owned 44,539 shares in the company, valued at C$3,995,148.30. This represents a 43.43% decrease in their position. 0.02% of the stock is currently owned by insiders.

About The Descartes Systems Group

Descartes powers more responsive, efficient, secure and sustainable international and domestic supply chains by uniting logistics-intensive businesses on its Global Logistics Network (‘GLN’). Shippers, carriers, and logistics service providers connect and collaborate on the GLN, leveraging technology, data and artificial intelligence (‘AI’) to manage last mile deliveries, domestic and international shipments, transportation rating and payment, global trade research, customs compliance and a variety of regulatory processes.