The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) posted its quarterly earnings results on Wednesday. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01, Morningstar.com reports. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. The firm had revenue of $57.29 million for the quarter, compared to analysts’ expectations of $55.74 million.

Shares of The Descartes Systems Group (NASDAQ:DSGX) traded up 1.1518% during midday trading on Thursday, hitting $28.7271. The stock had a trading volume of 50,928 shares. The Descartes Systems Group has a 1-year low of $20.20 and a 1-year high of $28.93. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 89.7722 and a beta of 0.56. The firm has a 50-day moving average price of $26.48 and a 200-day moving average price of $24.24.

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Several large investors have recently modified their holdings of DSGX. US Bancorp DE grew its position in shares of The Descartes Systems Group by 89.6% in the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in The Descartes Systems Group by 20.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock worth $123,000 after buying an additional 860 shares in the last quarter. Legal & General Group Plc grew its position in The Descartes Systems Group by 6.8% during the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock worth $189,000 after buying an additional 495 shares in the last quarter. Envestnet Asset Management Inc. grew its position in The Descartes Systems Group by 34.6% during the first quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock worth $229,000 after buying an additional 2,573 shares in the last quarter. Finally, Shell Asset Management Co. grew its position in The Descartes Systems Group by 0.4% during the first quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock worth $241,000 after buying an additional 32 shares in the last quarter. 79.10% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the company. BMO Capital Markets reissued a “hold” rating and set a $26.00 price target on shares of The Descartes Systems Group in a research report on Thursday, August 17th. Royal Bank Of Canada boosted their price target on The Descartes Systems Group from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Canaccord Genuity reissued a “buy” rating and set a $28.00 price target on shares of The Descartes Systems Group in a research report on Thursday, August 17th. ValuEngine raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, August 23rd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $30.33.

About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Earnings History for The Descartes Systems Group (NASDAQ:DSGX)

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