The Descartes Systems Group (NASDAQ:DSGX) Reaches New 12-Month High – Should You Buy?

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares hit a new 52-week high during trading on Monday . The stock traded as high as $117.25 and last traded at $117.10, with a volume of 18169 shares changing hands. The stock had previously closed at $116.08.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DSGX shares. Scotiabank upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on shares of 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. StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Price Performance

The stock has a 50 day moving average price of $107.32 and a two-hundred day moving average price of $101.01. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 79.12 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share 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 for the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the previous year, the company earned $0.32 earnings per share. The Descartes Systems Group’s quarterly 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 fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently bought and sold shares of DSGX. Conestoga Capital Advisors LLC increased its position in shares of The Descartes Systems Group by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after purchasing an additional 52,485 shares during the last quarter. Vanguard Group Inc. increased its holdings in The Descartes Systems Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after buying an additional 40,897 shares during the last quarter. Fiera Capital Corp increased its holdings in The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after buying an additional 19,817 shares during the last quarter. Mackenzie Financial Corp raised its stake in The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after buying an additional 91,301 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in The Descartes Systems Group by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after buying an additional 21,105 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.