The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) – Investment analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for The Descartes Systems Group in a report issued on Thursday, September 8th. William Blair analyst M. Pfau now anticipates that the technology company will earn $1.33 per share for the year, up from their prior forecast of $1.32. The consensus estimate for The Descartes Systems Group's current full-year earnings is $1.10 per share.
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Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group upped their price objective on The Descartes Systems Group from $74.00 to $77.00 in a research report on Thursday. Barclays upped their price objective on The Descartes Systems Group from $62.00 to $72.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 16th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, September 1st. Royal Bank of Canada lowered their price objective on The Descartes Systems Group from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 27th. Finally, TD Securities upped their price objective on The Descartes Systems Group from $84.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.60.
The Descartes Systems Group Trading Up 2.0 %
The Descartes Systems Group stock opened at $68.84 on Friday. The Descartes Systems Group has a 12 month low of $56.19 and a 12 month high of $91.39. The stock's 50 day simple moving average is $68.45 and its two-hundred day simple moving average is $66.56. The firm has a market cap of $5.84 billion, a PE ratio of 64.94 and a beta of 1.03.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its earnings results on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $118.72 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The Descartes Systems Group's revenue for the quarter was up 17.6% on a year-over-year basis.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in DSGX. Price T Rowe Associates Inc. MD raised its stake in The Descartes Systems Group by 21.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,874,995 shares of the technology company's stock valued at $798,969,000 after purchasing an additional 2,261,747 shares during the last quarter. Jarislowsky Fraser Ltd raised its stake in The Descartes Systems Group by 3.5% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 4,871,988 shares of the technology company's stock valued at $302,112,000 after purchasing an additional 166,619 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in The Descartes Systems Group by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,099,699 shares of the technology company's stock valued at $227,084,000 after purchasing an additional 30,332 shares during the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 39,059 shares during the last quarter. Finally, Echo Street Capital Management LLC raised its stake in The Descartes Systems Group by 10.6% in the 1st quarter. Echo Street Capital Management LLC now owns 2,728,320 shares of the technology company's stock valued at $199,739,000 after purchasing an additional 260,600 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.
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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