The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $96.41 and last traded at $96.37, with a volume of 338976 shares. The stock had previously closed at $92.79.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on DSGX. StockNews.com raised The Descartes Systems Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 10th. Stephens raised their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. Wolfe Research upgraded The Descartes Systems Group from a "peer perform" rating to an "outperform" rating and set a $95.00 target price on the stock in a research report on Wednesday, January 10th. CIBC upgraded The Descartes Systems Group from a "neutral" rating to a "sector outperform" rating and raised their target price for the company from $96.50 to $101.00 in a research report on Tuesday, April 16th. Finally, TD Securities raised their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.44.
Check Out Our Latest Stock Analysis on DSGX
The Descartes Systems Group Trading Up 2.2 %
The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 70.78 and a beta of 0.94. The firm has a 50-day moving average price of $90.84 and a 200-day moving average price of $84.99.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company had revenue of $148.20 million for the quarter, compared to analysts' expectations of $146.62 million. During the same period last year, the firm earned $0.34 EPS. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.
Hedge Funds Weigh In On The Descartes Systems Group
Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in shares of The Descartes Systems Group by 8.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company's stock worth $160,912,000 after acquiring an additional 154,110 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of The Descartes Systems Group by 5.6% during the 3rd quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company's stock worth $163,085,000 after acquiring an additional 117,611 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of The Descartes Systems Group by 37.7% during the 3rd quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company's stock worth $8,048,000 after acquiring an additional 30,010 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of The Descartes Systems Group by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 413,741 shares of the technology company's stock worth $30,506,000 after acquiring an additional 12,312 shares in the last quarter. Finally, Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $2,693,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
About The Descartes Systems Group
(
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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.
Further Reading
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