The Descartes Systems Group (NASDAQ:DSGX) Sets New 52-Week Low – What’s Next?

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week low on Wednesday . The stock traded as low as $63.91 and last traded at $64.5020, with a volume of 251906 shares trading hands. The stock had previously closed at $69.33.

Analyst Ratings Changes

DSGX has been the subject of several research reports. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, December 1st. BMO Capital Markets lowered their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Trading Up 1.6%

The stock has a fifty day simple moving average of $82.92 and a two-hundred day simple moving average of $90.87. The company has a market cap of $5.65 billion, a PE ratio of 37.14 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same period last year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $28,000. Danske Bank A S acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

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.