The Descartes Systems Group (NASDAQ:DSGX) Sets New 52-Week High at $97.29

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock 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

DSGX has been the topic of several analyst reports. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Wolfe Research upgraded shares of 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. CIBC upgraded The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and boosted their target price for the company from $96.50 to $101.00 in a research report on Tuesday, April 16th. BMO Capital Markets increased their target price on The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, Raymond James upped their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Price Performance

The firm has a market cap of $8.34 billion, a PE ratio of 72.97 and a beta of 0.91. The stock’s fifty day simple moving average is $91.87 and its 200-day simple moving average is $85.79.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of The Descartes Systems Group by 5.5% during the 1st quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock valued at $218,000 after purchasing an additional 123 shares in the last quarter. AtonRa Partners boosted its stake in shares of The Descartes Systems Group by 1.6% during the 4th quarter. AtonRa Partners now owns 8,639 shares of the technology company’s stock worth $726,000 after acquiring an additional 137 shares in the last quarter. Signaturefd LLC grew its position in shares of The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after acquiring an additional 147 shares during the period. Bank of Nova Scotia Trust Co. increased its stake in shares of The Descartes Systems Group by 0.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock valued at $4,332,000 after purchasing an additional 173 shares in the last quarter. Finally, Prudential PLC raised its holdings in The Descartes Systems Group by 1.8% in the 4th quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.