The Descartes Systems Group (NASDAQ:DSGX) Sets New 1-Year High – What’s Next?

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $117.25 and last traded at $117.10, with a volume of 18169 shares traded. The stock had previously closed at $116.08.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DSGX. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Scotiabank upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, BMO Capital Markets increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.25.

The Descartes Systems Group Price Performance

The firm has a market cap of $10.02 billion, a PE ratio of 79.34 and a beta of 0.97. The business’s 50 day moving average price is $106.61 and its 200 day moving average price is $100.73.

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

Institutional Trading of The Descartes Systems Group

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in shares of The Descartes Systems Group by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock worth $110,000 after purchasing an additional 600 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in The Descartes Systems Group by 6.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 97,129 shares of the technology company’s stock worth $8,890,000 after buying an additional 6,070 shares in the last quarter. Kennedy Capital Management LLC increased its stake in The Descartes Systems Group by 5.9% in the 1st quarter. Kennedy Capital Management LLC now owns 44,901 shares of the technology company’s stock valued at $4,110,000 after purchasing an additional 2,497 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in The Descartes Systems Group in the first quarter valued at $19,264,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.