The Descartes Systems Group (NASDAQ:DSGX) Reaches New 12-Month Low Following Analyst Downgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Scotiabank lowered their price target on the stock from $115.00 to $95.00. Scotiabank currently has a sector outperform rating on the stock. The Descartes Systems Group traded as low as $64.42 and last traded at $64.4490, with a volume of 59180 shares. The stock had previously closed at $66.36.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, December 1st. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Thursday, December 4th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $114.20.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 2.1% in the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after purchasing an additional 80,309 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after buying an additional 69,260 shares during the period. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after acquiring an additional 276,329 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of The Descartes Systems Group by 7.0% during the second quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after acquiring an additional 120,137 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in The Descartes Systems Group by 0.3% in the third quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock valued at $158,507,000 after purchasing an additional 5,317 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.5%

The firm has a 50-day simple moving average of $85.87 and a two-hundred day simple moving average of $92.86. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 37.60 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.