The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week high during trading on Thursday . The stock traded as high as $26.55 and last traded at $26.50, with a volume of 81,784 shares changing hands. The stock had previously closed at $26.42.

Several research firms have recently commented on DSGX. Zacks Investment Research downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. TD Securities restated a “buy” rating and set a $29.00 price objective (up previously from $25.00) on shares of The Descartes Systems Group in a report on Wednesday, May 31st. Scotiabank boosted their price objective on The Descartes Systems Group from $24.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, June 1st. BMO Capital Markets restated a “market perform” rating and set a $35.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 1st. Finally, Morgan Stanley restated an “equal weight” rating and set a $27.00 price objective (up previously from $25.00) on shares of The Descartes Systems Group in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The Descartes Systems Group presently has an average rating of “Buy” and a consensus target price of $32.44.

The stock’s 50-day moving average is $24.92 and its 200 day moving average is $23.49. The company has a market cap of $2.01 billion, a P/E ratio of 82.66 and a beta of 0.58.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. The company had revenue of $54.51 million for the quarter, compared to the consensus estimate of $54.09 million. Equities analysts forecast that The Descartes Systems Group Inc. will post $0.42 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in The Descartes Systems Group by 36.7% in the fourth quarter. FMR LLC now owns 129,690 shares of the technology company’s stock worth $2,766,000 after buying an additional 34,790 shares during the period. Norges Bank bought a new position in The Descartes Systems Group during the fourth quarter worth $11,105,000. Conestoga Capital Advisors LLC raised its position in The Descartes Systems Group by 89.6% in the first quarter. Conestoga Capital Advisors LLC now owns 1,596,840 shares of the technology company’s stock worth $36,568,000 after buying an additional 754,403 shares during the period. Granite Investment Partners LLC raised its position in The Descartes Systems Group by 15.8% in the first quarter. Granite Investment Partners LLC now owns 451,384 shares of the technology company’s stock worth $10,336,000 after buying an additional 61,728 shares during the period. Finally, Shell Asset Management Co. raised its position in The Descartes Systems Group by 0.4% in the first quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock worth $241,000 after buying an additional 32 shares during the period. 77.64% of the stock is owned by institutional investors.

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About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

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