The Descartes Systems Group (NASDAQ:DSGX) Hits New 1-Year Low – Time to Sell?

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $82.96 and last traded at $84.5370, with a volume of 548306 shares trading hands. The stock had previously closed at $83.87.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 price target on the stock. TD Securities initiated coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $121.00 price objective for the company. Finally, TD Cowen reaffirmed a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.70.

The Descartes Systems Group Trading Down 1.8%

The stock has a 50 day simple moving average of $96.91 and a 200-day simple moving average of $102.08. The firm has a market cap of $7.12 billion, a PE ratio of 49.04 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in The Descartes Systems Group during the 3rd quarter valued at approximately $28,000. Cullen Frost Bankers Inc. purchased a new position in shares of The Descartes Systems Group in the first quarter valued at $49,000. SBI Securities Co. Ltd. increased its position in The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after purchasing an additional 248 shares during the last quarter. Parallel Advisors LLC raised its stake in The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after purchasing an additional 152 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

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.