The Descartes Systems Group (NASDAQ:DSGX) Reaches 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 on Tuesday . The company traded as high as $97.29 and last traded at $96.89, with a volume of 4224 shares. The stock had previously closed at $97.11.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James boosted their target price on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. TD Securities increased their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed 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. BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Stock Performance

The stock’s 50-day simple moving average is $91.42 and its 200 day simple moving average is $85.54. The company has a market capitalization of $8.30 billion, a PE ratio of 72.47 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same period in the prior year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division acquired a new stake in shares of The Descartes Systems Group during the first quarter worth about $28,000. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group during the fourth quarter worth approximately $27,000. Accent Capital Management LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $32,000. Operose Advisors LLC purchased a new stake in The Descartes Systems Group in the 3rd quarter valued at $35,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.