The Descartes Systems Group (NASDAQ:DSGX) Hits New 12-Month High – Should You Buy?

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) reached a new 52-week high on Monday . The stock traded as high as $123.20 and last traded at $122.58, with a volume of 61746 shares. The stock had previously closed at $119.85.

Wall Street Analyst Weigh In

DSGX has been the subject of several recent analyst reports. Loop Capital started coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price for the company. Scotiabank upped their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Stephens upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Royal Bank of Canada increased their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Finally, BMO Capital Markets boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Price Performance

The company has a market capitalization of $10.50 billion, a P/E ratio of 77.12 and a beta of 0.99. The stock’s fifty day simple moving average is $116.33 and its 200-day simple moving average is $108.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the prior year, the company posted $0.31 EPS. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in shares of The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 2,250 shares during the period. Plato Investment Management Ltd bought a new stake in shares of The Descartes Systems Group during the third quarter valued at approximately $2,308,000. Massachusetts Financial Services Co. MA raised its stake in shares of The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after purchasing an additional 9,768 shares in the last quarter. Barclays PLC raised its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 270 shares in the last quarter. Finally, Canoe Financial LP bought a new position in The Descartes Systems Group in the fourth quarter worth $7,939,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.