The Descartes Systems Group (NASDAQ:DSGX) Hits New 52-Week High - Time to Buy?

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $108.70 and last traded at $108.37, with a volume of 12633 shares traded. The stock had previously closed at $107.30.

Wall Street Analyst Weigh In

Several brokerages recently commented on DSGX. BMO Capital Markets lifted their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a "market perform" rating in a report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a "buy" rating in a report on Thursday, September 5th. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an "underweight" rating in a report on Thursday, September 5th. Finally, Scotiabank lifted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.17.

The Descartes Systems Group Price Performance

The firm has a market cap of $9.21 billion, a P/E ratio of 73.11 and a beta of 0.97. The stock's 50 day moving average is $102.35 and its two-hundred day moving average is $98.86.

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 analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business's revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company's stock valued at $695,864,000 after buying an additional 278,796 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of The Descartes Systems Group by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company's stock worth $326,238,000 after purchasing an additional 52,485 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of The Descartes Systems Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company's stock worth $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Fiera Capital Corp raised its stake in shares of The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company's stock worth $265,692,000 after buying an additional 19,817 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company's stock worth $206,807,000 after buying an additional 91,301 shares during the last quarter. 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.