The Descartes Systems Group (NASDAQ:DSGX) Sees Unusually-High Trading Volume – Still a Buy?

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares saw strong trading volume on Tuesday . 107,478 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 151,697 shares.The stock last traded at $106.30 and had previously closed at $104.24.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Barclays lifted their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $104.83.

The Descartes Systems Group Trading Up 0.9 %

The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 75.74 and a beta of 0.97. The firm has a fifty day moving average price of $100.43 and a 200 day moving average price of $97.34.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 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 for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the previous year, the company posted $0.32 EPS. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of DSGX. Westfield Capital Management Co. LP acquired a new stake in shares of The Descartes Systems Group in the first quarter valued at approximately $47,481,000. Price T Rowe Associates Inc. MD increased its stake in shares of The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after buying an additional 278,796 shares during the period. William Blair Investment Management LLC bought a new stake in shares of The Descartes Systems Group during the second quarter worth $20,608,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of The Descartes Systems Group during the first quarter valued at $19,264,000. Finally, Triasima Portfolio Management inc. boosted its holdings in The Descartes Systems Group by 90.1% in the second quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after acquiring an additional 120,325 shares during the last quarter. 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.