The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) issued its earnings results on Wednesday. The technology company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27, Briefing.com reports. The company had revenue of $123.01 million during the quarter, compared to the consensus estimate of $118.72 million. The Descartes Systems Group had a return on equity of 9.05% and a net margin of 19.69%. The company's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share.
The Descartes Systems Group Trading Down 2.6 %
Shares of The Descartes Systems Group stock opened at $67.46 on Friday. The business's 50 day simple moving average is $68.34 and its 200-day simple moving average is $66.57. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 63.64 and a beta of 1.03. The Descartes Systems Group has a twelve month low of $56.19 and a twelve month high of $91.39.
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Wall Street Analyst Weigh In
A number of brokerages recently commented on DSGX. Stephens reduced their price target on The Descartes Systems Group to $80.00 in a report on Friday, June 3rd. BMO Capital Markets reduced their price target on The Descartes Systems Group from $81.00 to $68.00 in a report on Thursday, June 2nd. CIBC downgraded The Descartes Systems Group from a "sector outperform" rating to a "neutral" rating and reduced their price target for the company from $89.00 to $71.00 in a report on Monday, June 27th. TD Securities upped their price objective on The Descartes Systems Group from $84.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday. Finally, StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, September 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.60.
Institutional Trading of The Descartes Systems Group
A number of institutional investors and hedge funds have recently made changes to their positions in DSGX. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,749,521 shares of the technology company's stock valued at $201,430,000 after acquiring an additional 39,059 shares during the period. Durable Capital Partners LP increased its position in The Descartes Systems Group by 60.6% in the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company's stock valued at $189,381,000 after acquiring an additional 975,727 shares during the period. Invesco Ltd. increased its position in The Descartes Systems Group by 28.7% in the 1st quarter. Invesco Ltd. now owns 1,638,074 shares of the technology company's stock valued at $120,005,000 after acquiring an additional 365,533 shares during the period. Royal Bank of Canada increased its position in The Descartes Systems Group by 44.8% in the 1st quarter. Royal Bank of Canada now owns 1,177,943 shares of the technology company's stock valued at $86,295,000 after acquiring an additional 364,486 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in The Descartes Systems Group by 547.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,058,300 shares of the technology company's stock valued at $65,677,000 after purchasing an additional 894,814 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.
About The Descartes Systems Group
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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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