The Descartes Systems Group (NASDAQ:DSGX) Hits New 52-Week Low – Should You Sell?

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) hit a new 52-week low on Monday . The company traded as low as $82.96 and last traded at $84.5370, with a volume of 548306 shares trading hands. The stock had previously closed at $83.87.

Analysts Set New Price Targets

A number of brokerages have commented on DSGX. Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. TD Securities started coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 price target on the stock. CIBC cut their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. TD Cowen reaffirmed 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. Finally, Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $121.70.

The Descartes Systems Group Stock Down 1.8%

The company has a 50-day moving average price of $96.91 and a 200-day moving average price of $102.08. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 49.00 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same period last year, the firm posted $0.40 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in The Descartes Systems Group in the second quarter valued at about $117,678,000. Price T Rowe Associates Inc. MD raised its holdings in shares of The Descartes Systems Group by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock worth $719,370,000 after buying an additional 936,718 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $91,155,000. CIBC Asset Management Inc boosted its stake in The Descartes Systems Group by 275.4% in the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock valued at $85,085,000 after buying an additional 613,009 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in The Descartes Systems Group during the second quarter worth $48,378,000. 77.73% of the stock is 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.