The Descartes Systems Group (NASDAQ:DSGX) Reaches New 1-Year High at $95.65

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

Analyst Ratings Changes

Several brokerages recently issued reports on DSGX. Stephens increased their price target on shares of 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. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. CIBC upgraded shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $96.50 to $101.00 in a research note on Tuesday, April 16th. Finally, TD Securities increased their price target on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Stock Performance

The business’s fifty day moving average price is $89.95 and its 200-day moving average price is $84.22. The stock has a market cap of $8.05 billion, a PE ratio of 70.40 and a beta of 0.94.

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

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors have recently made changes to their positions in DSGX. Maryland State Retirement & Pension System lifted its stake in shares of The Descartes Systems Group by 2.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 70,561 shares of the technology company’s stock worth $5,181,000 after purchasing an additional 1,355 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in The Descartes Systems Group by 19.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after acquiring an additional 500 shares during the period. Redwood Investments LLC raised its stake in The Descartes Systems Group by 3.4% during the 3rd quarter. Redwood Investments LLC now owns 61,224 shares of the technology company’s stock worth $4,497,000 after acquiring an additional 1,999 shares during the period. Mackenzie Financial Corp raised its stake in The Descartes Systems Group by 14.9% during the 3rd quarter. Mackenzie Financial Corp now owns 1,760,128 shares of the technology company’s stock worth $126,435,000 after acquiring an additional 227,972 shares during the period. Finally, Strs Ohio raised its stake in The Descartes Systems Group by 80.0% during the 3rd quarter. Strs Ohio now owns 90,000 shares of the technology company’s stock worth $6,604,000 after acquiring an additional 40,000 shares during the period. 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.