The Descartes Systems Group (NASDAQ:DSGX) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) posted its quarterly earnings data on Wednesday. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04, Briefing.com reports. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year.

The Descartes Systems Group Stock Performance

DSGX traded up $0.45 during trading hours on Wednesday, reaching $82.96. The company’s stock had a trading volume of 407,665 shares, compared to its average volume of 410,265. The company’s 50-day moving average is $89.32 and its 200-day moving average is $98.77. The Descartes Systems Group has a 52 week low of $78.88 and a 52 week high of $124.31. The firm has a market cap of $7.13 billion, a PE ratio of 49.09 and a beta of 0.74.

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently modified their holdings of DSGX. Quarry LP acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth approximately $27,000. Danske Bank A S bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC acquired a new stake in The Descartes Systems Group during the third quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd increased its stake in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after acquiring an additional 401 shares during the period. Finally, Employees Retirement System of Texas increased its stake in The Descartes Systems Group by 60.2% during the 3rd quarter. Employees Retirement System of Texas now owns 1,070 shares of the technology company’s stock worth $101,000 after acquiring an additional 402 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several recent research reports. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday. TD Securities began coverage on The Descartes Systems Group in a report on Friday, October 3rd. They set a “buy” rating and a $121.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.70.

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.