The Descartes Systems Group (NASDAQ:DSGX) Hits New 1-Year Low – Here’s Why

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $63.91 and last traded at $64.5020, with a volume of 251906 shares changing hands. The stock had previously closed at $69.33.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DSGX shares. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. BMO Capital Markets dropped their price objective on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Scotiabank reduced their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Finally, Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Stock Performance

The company has a market capitalization of $5.66 billion, a PE ratio of 37.16 and a beta of 0.75. The stock has a fifty day moving average of $84.41 and a 200 day moving average of $91.52.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The business had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same period last year, the firm posted $0.42 EPS. The company’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of The Descartes Systems Group by 3.4% in the fourth quarter. Deutsche Bank AG now owns 250,768 shares of the technology company’s stock worth $21,982,000 after buying an additional 8,307 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in The Descartes Systems Group by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,681 shares of the technology company’s stock worth $1,024,000 after acquiring an additional 1,200 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of The Descartes Systems Group by 25.2% during the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock worth $35,402,000 after acquiring an additional 81,354 shares in the last quarter. Prudential PLC bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $422,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of The Descartes Systems Group by 19.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,193,869 shares of the technology company’s stock valued at $104,655,000 after acquiring an additional 192,538 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.