The Descartes Systems Group (NASDAQ:DSGX) Sees Large Volume Increase - Here's What Happened

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG shares saw an uptick in trading volume on Tuesday . 107,478 shares changed hands during mid-day trading, a decline of 29% from the previous session's volume of 151,697 shares.The stock last traded at $106.30 and had previously closed at $104.24.

Wall Street Analyst Weigh In

Several research firms have weighed in on DSGX. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a "buy" rating in a research report on Thursday, September 5th. BMO Capital Markets lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a "market perform" rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Finally, National Bank Financial raised The Descartes Systems Group to a "strong-buy" rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $104.83.

The Descartes Systems Group Price Performance

The firm has a 50 day moving average of $99.91 and a two-hundred day moving average of $97.17. The stock has a market cap of $9.17 billion, a PE ratio of 75.96 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analysts' expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The Descartes Systems Group's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in The Descartes Systems Group by 24.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 509,683 shares of the technology company's stock worth $42,844,000 after buying an additional 99,268 shares during the period. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company's stock worth $260,312,000 after buying an additional 31,078 shares during the period. Park Place Capital Corp increased its position in The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company's stock worth $61,000 after buying an additional 219 shares during the period. Allspring Global Investments Holdings LLC increased its position in The Descartes Systems Group by 27.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 546,425 shares of the technology company's stock worth $50,014,000 after buying an additional 118,146 shares during the period. Finally, Maryland State Retirement & Pension System increased its position in The Descartes Systems Group by 1.6% during the first quarter. Maryland State Retirement & Pension System now owns 57,628 shares of the technology company's stock worth $5,213,000 after buying an additional 886 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Company Profile

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.