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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week high on Monday . The stock traded as high as $123.20 and last traded at $122.58, with a volume of 61746 shares changing hands. The stock had previously closed at $119.85.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DSGX shares. Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, TD Securities boosted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Trading Up 2.3 %

The company has a market cap of $10.50 billion, a P/E ratio of 77.12 and a beta of 0.99. The business has a 50 day moving average price of $116.33 and a 200-day moving average price of $108.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter last year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently added to or reduced their stakes in DSGX. Commonwealth Equity Services LLC bought a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $207,000. EverSource Wealth Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after acquiring an additional 108 shares during the period. AGF Management Ltd. grew its position in shares of The Descartes Systems Group by 3.9% in the fourth quarter. AGF Management Ltd. now owns 102,947 shares of the technology company’s stock valued at $11,702,000 after purchasing an additional 3,861 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Descartes Systems Group by 17.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,585 shares of the technology company’s stock worth $6,088,000 after purchasing an additional 8,130 shares during the period. Finally, Amundi lifted its holdings in The Descartes Systems Group by 21.4% during the 4th quarter. Amundi now owns 55,042 shares of the technology company’s stock worth $6,228,000 after purchasing an additional 9,684 shares during the last quarter. Institutional investors and hedge funds 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.