The Descartes Systems Group (NASDAQ:DSGX) Releases Quarterly Earnings Results, Hits Expectations

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) released its quarterly earnings data on Thursday. The technology company reported $0.57 EPS for the quarter, hitting 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 Stock Performance

DSGX stock traded down $2.12 during midday trading on Thursday, reaching $71.32. 1,013,993 shares of the company traded hands, compared to its average volume of 614,259. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 35.66 and a beta of 0.62. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $107.52. The business has a 50 day moving average of $75.59 and a 200-day moving average of $72.49.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of analyst reports. 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 report on Thursday, June 4th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Friday, September 4th. Loop Capital reaffirmed a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce increased their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.46.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new position in The Descartes Systems Group in the fourth quarter worth approximately $257,000. State of Tennessee Department of Treasury purchased a new stake in shares of The Descartes Systems Group in the 4th quarter worth $184,000. Quadrant Capital Group LLC grew its position in shares of The Descartes Systems Group by 561.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,659 shares of the technology company’s stock worth $145,000 after buying an additional 1,408 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of The Descartes Systems Group by 41.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,331 shares of the technology company’s stock worth $117,000 after buying an additional 391 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of The Descartes Systems Group by 77.3% during the third quarter. Brooklyn Investment Group now owns 2,638 shares of the technology company’s stock valued at $249,000 after buying an additional 1,150 shares during the period. Institutional investors own 77.73% of the company’s stock.

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.