The Descartes Systems Group (NASDAQ:DSGX) Announces Earnings Results

Key Points

• The Descartes Systems Group reported a quarterly earnings per share (EPS) of $0.43, which was below analysts' estimates of $0.49.
• The company's stock experienced an increase of $1.11 to reach $99.51 during mid-day trading, with a market capitalization of $8.55 billion.
• Brokerage firms have issued varied ratings for the company, with an average price target of $122.18 and the stock currently rated as a .

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG announced its quarterly earnings data on Wednesday. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06), Zacks reports. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $1.11 during mid-day trading on Wednesday, hitting $99.51. The company's stock had a trading volume of 649,902 shares, compared to its average volume of 356,066. The Descartes Systems Group has a 52-week low of $92.00 and a 52-week high of $124.31. The stock's fifty day simple moving average is $102.27 and its two-hundred day simple moving average is $104.34. The firm has a market capitalization of $8.55 billion, a P/E ratio of 59.95 and a beta of 0.80.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DSGX. Royal Bank Of Canada cut their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Barclays cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. Morgan Stanley began coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Finally, Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.18.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DSGX. Federated Hermes Inc. raised its holdings in The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company's stock valued at $127,000 after buying an additional 254 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of The Descartes Systems Group by 73.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,189 shares of the technology company's stock valued at $223,000 after purchasing an additional 926 shares during the period. Vident Advisory LLC raised its stake in shares of The Descartes Systems Group by 29.5% during the second quarter. Vident Advisory LLC now owns 2,828 shares of the technology company's stock valued at $287,000 after purchasing an additional 645 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company's stock valued at $368,000 after purchasing an additional 143 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of The Descartes Systems Group during the second quarter valued at approximately $460,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

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.

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