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

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

Wall Street Analyst Weigh In

DSGX has been the subject of several research reports. CIBC upgraded shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $96.50 to $101.00 in a research note on Tuesday, April 16th. Raymond James increased their price target on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Barclays upped their target price on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 20th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 target price on shares of The Descartes Systems Group in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Stock Performance

The company has a market cap of $8.34 billion, a price-to-earnings ratio of 72.97 and a beta of 0.91. The business has a 50-day simple moving average of $91.87 and a 200-day simple moving average of $85.79.

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

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in The Descartes Systems Group in the 4th quarter valued at about $92,571,000. Clearbridge Investments LLC purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $36,767,000. Allspring Global Investments Holdings LLC increased its position in shares of The Descartes Systems Group by 497.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock worth $36,001,000 after purchasing an additional 356,560 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in The Descartes Systems Group by 36.6% during the 1st quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after buying an additional 261,688 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in The Descartes Systems Group by 3,799.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock worth $21,856,000 after purchasing an additional 253,334 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.