The Descartes Systems Group (NASDAQ:DSGX) Sees Large Volume Increase After Analyst Upgrade

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) saw an uptick in trading volume on Thursday after TD Securities raised their price target on the stock from $84.00 to $85.00. TD Securities currently has a buy rating on the stock. 6,492 shares traded hands during trading, a decline of 93% from the previous session’s volume of 99,731 shares.The stock last traded at $67.55 and had previously closed at $69.24.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price objective on The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Canaccord Genuity Group increased their price objective on The Descartes Systems Group from $74.00 to $77.00 in a research report on Thursday. Raymond James reduced their price objective on The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating for the company in a research report on Thursday, June 2nd. Canaccord Genuity Group increased their price objective on The Descartes Systems Group from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday. Finally, CIBC cut The Descartes Systems Group from a “sector outperform” rating to a “neutral” rating and reduced their price objective for the company from $89.00 to $71.00 in a research report on Monday, June 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DSGX. Northern Trust Corp raised its stake in shares of The Descartes Systems Group by 2.1% in the fourth quarter. Northern Trust Corp now owns 234,335 shares of the technology company’s stock valued at $19,375,000 after purchasing an additional 4,772 shares in the last quarter. First Trust Advisors LP acquired a new position in The Descartes Systems Group during the fourth quarter worth $382,000. Raymond James Financial Services Advisors Inc. raised its stake in The Descartes Systems Group by 19.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,637 shares of the technology company’s stock worth $301,000 after acquiring an additional 590 shares in the last quarter. Lazard Asset Management LLC raised its stake in The Descartes Systems Group by 130.9% during the fourth quarter. Lazard Asset Management LLC now owns 1,039 shares of the technology company’s stock worth $85,000 after acquiring an additional 589 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in The Descartes Systems Group by 1,296,800.0% during the fourth quarter. BNP Paribas Arbitrage SA now owns 12,969 shares of the technology company’s stock worth $1,072,000 after acquiring an additional 12,968 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

The firm has a 50 day simple moving average of $68.45 and a 200-day simple moving average of $66.56. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 64.94 and a beta of 1.03.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The Descartes Systems Group had a return on equity of 9.05% and a net margin of 19.69%. The firm had revenue of $123.01 million during the quarter, compared to analyst estimates of $118.72 million. During the same period in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.1 earnings per share for the current fiscal year.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

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