The Descartes Systems Group (NASDAQ:DSGX) Sets New 12-Month High Following Analyst Upgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) hit a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from $120.00 to $125.00. Scotiabank currently has a sector outperform rating on the stock. The Descartes Systems Group traded as high as $122.22 and last traded at $120.58, with a volume of 217552 shares traded. The stock had previously closed at $116.02.

Other analysts have also issued reports about the company. BMO Capital Markets increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.50.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intact Investment Management Inc. acquired a new stake in The Descartes Systems Group in the second quarter valued at approximately $61,000. Blue Trust Inc. lifted its position in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares in the last quarter. Andra AP fonden purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $77,000. Whittier Trust Co. of Nevada Inc. grew its stake in The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after purchasing an additional 704 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 4.6 %

The business’s fifty day moving average is $108.71 and its 200 day moving average is $101.68. The company has a market cap of $10.37 billion, a P/E ratio of 78.39 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

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.