The Descartes Systems Group (NASDAQ:DSGX) Sees Unusually-High Trading Volume – Here’s What Happened

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares saw an uptick in trading volume on Tuesday . 107,478 shares were traded during trading, a decline of 29% from the previous session’s volume of 151,697 shares.The stock last traded at $106.30 and had previously closed at $104.24.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DSGX shares. BMO Capital Markets raised their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Barclays boosted their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.83.

The Descartes Systems Group Trading Up 3.0 %

The firm’s 50-day simple moving average is $99.91 and its two-hundred day simple moving average is $97.17. The stock has a market capitalization of $9.17 billion, a PE ratio of 75.96 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several hedge funds and other institutional investors have recently modified their holdings of DSGX. Assenagon Asset Management S.A. raised its position in The Descartes Systems Group by 4.3% during the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after acquiring an additional 158 shares in the last quarter. Park Place Capital Corp lifted its stake in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after purchasing an additional 212 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in The Descartes Systems Group by 18.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock worth $137,000 after purchasing an additional 219 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in The Descartes Systems Group by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after buying an additional 279 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group during the first quarter valued at about $28,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.