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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $123.20 and last traded at $122.58, with a volume of 61746 shares. The stock had previously closed at $119.85.

Analyst Ratings Changes

A number of analysts have commented on DSGX shares. TD Securities upped their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital started coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. Scotiabank raised their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. BMO Capital Markets boosted their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Down 3.1 %

The firm has a 50 day moving average of $116.51 and a 200-day moving average of $108.53. The company has a market cap of $10.16 billion, a P/E ratio of 74.65 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter in the previous year, the business earned $0.31 EPS. Equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

A number of institutional investors and hedge funds have recently bought and sold shares of DSGX. Mather Group LLC. boosted its holdings in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $54,000. GAMMA Investing LLC boosted its stake in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares in the last quarter. 77.73% of the stock is currently owned by 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.