The Descartes Systems Group (NASDAQ:DSGX) Reaches New 52-Week High – Should You Buy?

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week high on Monday . The stock traded as high as $117.20 and last traded at $117.20, with a volume of 108 shares. The stock had previously closed at $115.00.

Analyst Upgrades and Downgrades

DSGX has been the topic of several research analyst reports. Scotiabank raised their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Trading Down 0.4 %

The firm’s 50-day simple moving average is $103.90 and its two-hundred day simple moving average is $99.70. The stock has a market capitalization of $9.84 billion, a PE ratio of 77.82 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Institutional investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP boosted its stake in shares of The Descartes Systems Group by 3.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock valued at $60,248,000 after buying an additional 20,205 shares during the period. Nicolet Advisory Services LLC boosted its position in The Descartes Systems Group by 6.4% during the third quarter. Nicolet Advisory Services LLC now owns 5,485 shares of the technology company’s stock valued at $551,000 after purchasing an additional 331 shares during the last quarter. Montrusco Bolton Investments Inc. grew its stake in The Descartes Systems Group by 19.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 42,902 shares of the technology company’s stock valued at $4,420,000 after purchasing an additional 7,008 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after purchasing an additional 9,768 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of The Descartes Systems Group by 41.6% during the 3rd quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 3,134 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.