The Descartes Systems Group (TSE:DSG) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of The Descartes Systems Group Inc. (TSE:DSG) (NASDAQ:DSGX) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$99.39 and traded as high as C$101.66. The Descartes Systems Group shares last traded at C$101.09, with a volume of 253,868 shares traded.

Analyst Ratings Changes

Separately, Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Strong Buy”.

The Descartes Systems Group Trading Down 1.3%

The stock has a 50 day moving average of C$99.39 and a 200-day moving average of C$101.69. The company has a market capitalization of C$8.66 billion, a P/E ratio of 50.29, a P/E/G ratio of 2.39 and a beta of 0.13. The company has a current ratio of 2.05, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50.

The Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$262.95 million for the quarter. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.26%. On average, research analysts predict that The Descartes Systems Group Inc. will post 3.3498285 EPS for the current year.

Insider Activity at The Descartes Systems Group

In related news, Director John Scott Pagan sold 20,163 shares of The Descartes Systems Group stock in a transaction on Monday, April 13th. The shares were sold at an average price of C$90.83, for a total transaction of C$1,831,405.29. Following the transaction, the director owned 127,639 shares in the company, valued at approximately C$11,593,450.37. The trade was a 13.64% decrease in their position. Also, insider Edward Ryan sold 34,193 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of C$89.70, for a total transaction of C$3,067,112.10. Following the completion of the transaction, the insider directly owned 44,539 shares of the company’s stock, valued at C$3,995,148.30. This represents a 43.43% decrease in their position. In the last quarter, insiders have sold 57,128 shares of company stock worth $5,178,628. 0.02% of the stock is owned by corporate insiders.

About The Descartes Systems Group

Descartes powers more responsive, efficient, secure and sustainable international and domestic supply chains by uniting logistics-intensive businesses on its Global Logistics Network (‘GLN’). Shippers, carriers, and logistics service providers connect and collaborate on the GLN, leveraging technology, data and artificial intelligence (‘AI’) to manage last mile deliveries, domestic and international shipments, transportation rating and payment, global trade research, customs compliance and a variety of regulatory processes.