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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) 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 trading hands. The stock had previously closed at $116.08.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

The firm has a market capitalization of $10.02 billion, a PE ratio of 79.12 and a beta of 0.97. The stock’s 50-day moving average price is $107.32 and its 200 day moving average price is $101.01.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DSGX. Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $61,000. Blue Trust Inc. lifted its holdings in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $77,000. Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after buying an additional 212 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after buying an additional 704 shares during the period. 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.