The Descartes Systems Group (NASDAQ:DSGX) Reaches New 12-Month High – Here’s What Happened

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week high during trading on Thursday. The company traded as high as $95.74 and last traded at $96.4540, with a volume of 49,392 shares trading hands. The stock had previously closed at $94.74.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DSGX. National Bank Financial raised their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Friday, September 4th. Scotiabank upped their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a report on Friday, September 11th. Scotia increased their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Finally, Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.33.

The Descartes Systems Group Trading Down 0.0%

The company has a market capitalization of $8.10 billion, a P/E ratio of 44.29 and a beta of 0.65. The company’s fifty day moving average is $83.17 and its 200 day moving average is $74.93.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Equities research analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter worth $181,742,000. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth $141,403,000. Wellington Management Group LLP increased its position in shares of The Descartes Systems Group by 640.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after purchasing an additional 1,179,345 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Descartes Systems Group in the second quarter worth about $58,755,000. Finally, Primecap Management Co. CA purchased a new stake in shares of The Descartes Systems Group during the second quarter valued at $50,460,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.