The Descartes Systems Group (NASDAQ:DSGX) Trading 2.3% Higher

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shot up 2.3% during trading on Tuesday . The stock traded as high as $89.74 and last traded at $89.39. 26,801 shares changed hands during trading, a decline of 81% from the average session volume of 143,099 shares. The stock had previously closed at $87.35.

Analyst Ratings Changes

Several research firms have commented on DSGX. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Wednesday, January 10th. Barclays boosted their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Stephens boosted their target price on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Stock Down 0.4 %

The stock’s 50 day moving average is $89.67 and its two-hundred day moving average is $83.61. The company has a market capitalization of $7.71 billion, a PE ratio of 67.57 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in The Descartes Systems Group by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares during the period. Fiera Capital Corp raised its holdings in The Descartes Systems Group by 5.6% in the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock worth $163,085,000 after purchasing an additional 117,611 shares in the last quarter. Toronto Dominion Bank raised its holdings in The Descartes Systems Group by 37.7% in the third quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock worth $8,048,000 after purchasing an additional 30,010 shares in the last quarter. Legal & General Group Plc raised its holdings in The Descartes Systems Group by 3.1% in the third quarter. Legal & General Group Plc now owns 413,741 shares of the technology company’s stock worth $30,506,000 after purchasing an additional 12,312 shares in the last quarter. Finally, Dynamo Internacional Gestao DE Recursos LTDA. bought a new position in The Descartes Systems Group in the third quarter worth about $2,693,000. 77.73% of the stock is 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.