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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) announced its earnings results on Wednesday. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04, Briefing.com reports. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis.

The Descartes Systems Group Stock Performance

DSGX traded up $10.32 during midday trading on Thursday, reaching $93.28. The company had a trading volume of 749,522 shares, compared to its average volume of 411,462. The Descartes Systems Group has a 12-month low of $78.88 and a 12-month high of $124.31. The business has a 50-day moving average price of $89.32 and a two-hundred day moving average price of $98.77. The stock has a market cap of $8.02 billion, a PE ratio of 55.19 and a beta of 0.74.

Institutional Trading of The Descartes Systems Group

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of The Descartes Systems Group by 119.2% during the third quarter. Bank of America Corp DE now owns 642,817 shares of the technology company’s stock worth $60,573,000 after acquiring an additional 349,517 shares in the last quarter. Legal & General Group Plc increased its position in shares of The Descartes Systems Group by 49.0% during the third quarter. Legal & General Group Plc now owns 406,915 shares of the technology company’s stock valued at $38,323,000 after buying an additional 133,846 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after buying an additional 98,054 shares in the last quarter. DF Dent & Co. Inc. boosted its position in shares of The Descartes Systems Group by 36.1% in the third quarter. DF Dent & Co. Inc. now owns 372,325 shares of the technology company’s stock valued at $35,084,000 after acquiring an additional 98,790 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of The Descartes Systems Group by 207.6% in the third quarter. Two Sigma Investments LP now owns 361,901 shares of the technology company’s stock valued at $34,102,000 after acquiring an additional 244,252 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on DSGX. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday. TD Securities started coverage on The Descartes Systems Group in a research report on Friday, October 3rd. They set a “buy” rating and a $121.00 target price on the stock. Morgan Stanley cut their target price on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

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.