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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) released its quarterly earnings results on Thursday. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57, Zacks reports. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.

The Descartes Systems Group Stock Down 2.9%

Shares of NASDAQ:DSGX traded down $2.12 during midday trading on Thursday, reaching $71.32. The company had a trading volume of 1,013,993 shares, compared to its average volume of 614,259. The business’s 50 day moving average price is $75.59 and its 200 day moving average price is $72.49. The stock has a market cap of $6.10 billion, a PE ratio of 35.66 and a beta of 0.62. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $107.52.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Loop Capital reissued a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Royal Bank Of Canada set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Friday, September 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

Institutional Inflows and Outflows

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

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.