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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) released its earnings results on Wednesday. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04, Briefing.com reports. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 11.2% compared to the same quarter last year.

The Descartes Systems Group Price Performance

DSGX stock traded up $0.45 during midday trading on Wednesday, reaching $82.96. 407,665 shares of the stock were exchanged, compared to its average volume of 410,265. The Descartes Systems Group has a 52 week low of $78.88 and a 52 week high of $124.31. The company has a fifty day moving average price of $89.32 and a 200 day moving average price of $98.77. The stock has a market capitalization of $7.13 billion, a PE ratio of 49.09 and a beta of 0.74.

Analyst Ratings Changes

A number of brokerages recently issued reports on DSGX. TD Cowen reissued a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. TD Securities assumed coverage on The Descartes Systems Group in a report on Friday, October 3rd. They issued a “buy” rating and a $121.00 target price on the stock. Morgan Stanley lowered their price target on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.70.

Institutional Trading of The Descartes Systems Group

Several hedge funds and other institutional investors have recently made changes to their positions in DSGX. Quarry LP acquired a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $27,000. Danske Bank A S acquired a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd increased its position in The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. Finally, Employees Retirement System of Texas raised its stake in shares of The Descartes Systems Group by 60.2% during the third quarter. Employees Retirement System of Texas now owns 1,070 shares of the technology company’s stock valued at $101,000 after acquiring an additional 402 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.