The Descartes Systems Group (NASDAQ:DSGX) Sets New 12-Month High Following Analyst Upgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from $115.00 to $135.00. TD Securities currently has a buy rating on the stock. The Descartes Systems Group traded as high as $122.22 and last traded at $120.58, with a volume of 217552 shares changing hands. The stock had previously closed at $116.02.

Several other research analysts have also commented on the company. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Monday. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.17.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intact Investment Management Inc. acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at $61,000. Blue Trust Inc. lifted its holdings in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares in the last quarter. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group in the second quarter valued at $77,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after purchasing an additional 704 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

The stock has a fifty day moving average price of $109.07 and a 200-day moving average price of $101.81. The company has a market cap of $10.25 billion, a PE ratio of 81.01 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

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.