The Descartes Systems Group (NASDAQ:DSGX) Reaches New 12-Month High at $97.29

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $97.29 and last traded at $96.89, with a volume of 4224 shares trading hands. The stock had previously closed at $97.11.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DSGX shares. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. CIBC upgraded The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and increased their target price for the company from $96.50 to $101.00 in a research note on Tuesday, April 16th. Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Wednesday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. Finally, Barclays boosted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Stock Up 0.3 %

The company has a fifty day simple moving average of $91.42 and a 200-day simple moving average of $85.54. The firm has a market cap of $8.30 billion, a P/E ratio of 72.47 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data 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 Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of DSGX. Raymond James Financial Services Advisors Inc. boosted its stake in shares of The Descartes Systems Group by 19.2% in the third 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. Strs Ohio boosted its stake in The Descartes Systems Group by 80.0% in the 3rd quarter. Strs Ohio now owns 90,000 shares of the technology company’s stock worth $6,604,000 after purchasing an additional 40,000 shares during the period. Advisor Partners II LLC purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at approximately $291,000. TD Asset Management Inc raised its position in shares of The Descartes Systems Group by 3.3% during the third quarter. TD Asset Management Inc now owns 699,073 shares of the technology company’s stock valued at $51,527,000 after buying an additional 22,009 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of The Descartes Systems Group by 188.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 71,719 shares of the technology company’s stock worth $5,263,000 after buying an additional 46,819 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.