The Descartes Systems Group (NASDAQ:DSGX) Posts Earnings Results, Hits Estimates

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) announced its quarterly earnings results on Thursday. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57, Zacks reports. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.

The Descartes Systems Group Price Performance

DSGX stock traded down $2.12 during midday trading on Thursday, reaching $71.32. The company had a trading volume of 1,013,993 shares, compared to its average volume of 614,259. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $107.52. The stock has a 50 day moving average price of $75.59 and a 200-day moving average price of $72.49. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 35.66 and a beta of 0.62.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of The Descartes Systems Group by 97.2% in the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after buying an additional 780,857 shares during the period. Bank of America Corp DE increased its position in The Descartes Systems Group by 119.2% in the 3rd quarter. Bank of America Corp DE now owns 642,817 shares of the technology company’s stock valued at $60,573,000 after acquiring an additional 349,517 shares during the period. Toronto Dominion Bank increased its position in The Descartes Systems Group by 217.9% in the 4th quarter. Toronto Dominion Bank now owns 396,689 shares of the technology company’s stock valued at $34,802,000 after acquiring an additional 271,916 shares during the period. Two Sigma Investments LP raised its stake in shares of The Descartes Systems Group by 207.6% during 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of The Descartes Systems Group by 169.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 327,406 shares of the technology company’s stock valued at $28,701,000 after acquiring an additional 205,901 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on DSGX shares. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce increased their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Loop Capital reiterated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial reduced their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.46.

The Descartes Systems Group Company Profile

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.