The Descartes Systems Group (NASDAQ:DSGX) Sets New 12-Month High at $95.65

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares hit a new 52-week high on Tuesday . The stock traded as high as $95.65 and last traded at $95.56, with a volume of 71225 shares trading hands. The stock had previously closed at $91.64.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DSGX shares. BMO Capital Markets increased their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Stephens increased their price target on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. StockNews.com raised The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 target price on shares of The Descartes Systems Group in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Price Performance

The firm’s 50-day moving average price is $89.72 and its 200 day moving average price is $83.95. The firm has a market cap of $8.09 billion, a P/E ratio of 68.39 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. During the same quarter last year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. Analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock worth $260,312,000 after acquiring an additional 31,078 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in The Descartes Systems Group by 0.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock worth $221,675,000 after acquiring an additional 20,875 shares during the last quarter. Fiera Capital Corp lifted its holdings in The Descartes Systems Group by 9.3% in the fourth quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock worth $204,169,000 after acquiring an additional 206,193 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in The Descartes Systems Group by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in The Descartes Systems Group by 2.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,544,300 shares of the technology company’s stock worth $113,339,000 after acquiring an additional 41,854 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

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.