The Descartes Systems Group (TSE:DSG) Shares Up 7.4% – Here’s What Happened

The Descartes Systems Group Inc. (TSE:DSG) (NASDAQ:DSGX)’s stock price shot up 7.4% during trading on Thursday . The stock traded as high as C$112.19 and last traded at C$110.50. 51,069 shares were traded during mid-day trading, a decline of 84% from the average session volume of 329,118 shares. The stock had previously closed at C$102.88.

Analyst Upgrades and Downgrades

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

The Descartes Systems Group Price Performance

The stock has a market capitalization of C$9.02 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 2.39 and a beta of 0.11. The business’s 50 day simple moving average is C$98.50 and its two-hundred day simple moving average is C$104.99. The company has a quick ratio of 1.85, a current ratio of 2.05 and a debt-to-equity ratio of 0.50.

The Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) last released its quarterly earnings data on Wednesday, June 3rd. The company reported C$0.75 earnings per share for the quarter. The firm had revenue of C$262.96 million for the quarter. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.26%. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 3.3498285 earnings per share for the current fiscal year.

Insider Transactions at The Descartes Systems Group

In other The Descartes Systems Group news, Director John Scott Pagan sold 20,163 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 127,639 shares in the company, valued at C$11,593,450.37. This trade represents a 13.64% decrease in their ownership of the stock. Also, insider Edward Ryan sold 34,193 shares of the stock in a transaction dated 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 transaction, the insider 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. 0.02% of the stock is owned by company 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.