The Descartes Systems Group (NASDAQ:DSGX) Announces Quarterly Earnings Results

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) released its quarterly earnings data on Wednesday. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01, MarketWatch Earnings reports. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $113.97 million. The Descartes Systems Group had a return on equity of 8.86% and a net margin of 20.32%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share.

DSGX traded up $1.60 during trading hours on Wednesday, hitting $60.95. 267,355 shares of the company’s stock were exchanged, compared to its average volume of 206,448. The Descartes Systems Group has a 1-year low of $56.19 and a 1-year high of $91.39. The stock’s 50-day moving average is $63.98 and its two-hundred day moving average is $71.44. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 60.95 and a beta of 1.12.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in The Descartes Systems Group by 1.4% in the first 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 last quarter. Durable Capital Partners LP lifted its stake in The Descartes Systems Group by 60.6% in the first 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 last quarter. Invesco Ltd. lifted its stake in The Descartes Systems Group by 28.7% in the first 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 last quarter. The Manufacturers Life Insurance Company lifted its stake in The Descartes Systems Group by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,233,043 shares of the technology company’s stock valued at $101,552,000 after acquiring an additional 5,684 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in The Descartes Systems Group by 44.8% in the first 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 last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.

Several brokerages have recently commented on DSGX. Zacks Investment Research upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Monday, March 7th. Barclays cut their target price on shares of The Descartes Systems Group from $78.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, May 20th. Raymond James set a $83.00 price target on shares of The Descartes Systems Group and gave the stock a “market perform” rating in a research report on Thursday, March 3rd. StockNews.com initiated coverage on shares of The Descartes Systems Group in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Royal Bank of Canada dropped their price target on shares of The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $84.89.

The Descartes Systems Group Company Profile (Get Rating)

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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