The Descartes Systems Group (NASDAQ:DSGX) Hits New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. National Bank Financial boosted their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. Scotiabank raised their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Loop Capital reiterated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.33.

The Descartes Systems Group Stock Performance

The stock’s 50 day simple moving average is $83.79 and its 200 day simple moving average is $75.01. The firm has a market cap of $8.04 billion, a P/E ratio of 43.92 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The business had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. During the same quarter last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in the stock. Trust Co. of Vermont bought a new position in The Descartes Systems Group in the 2nd quarter worth about $33,000. Keating Financial Advisory Services Inc. bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its position in The Descartes Systems Group by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after buying an additional 200 shares during the period. Allworth Financial LP bought a new position in The Descartes Systems Group during the 2nd quarter worth approximately $49,000. Finally, Parallel Advisors LLC grew its holdings in The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after acquiring an additional 419 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

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.