The Descartes Systems Group (NASDAQ:DSGX) Releases Earnings Results, Beats Estimates By $0.07 EPS

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) released its quarterly earnings data on Wednesday. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07, Briefing.com reports. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.95%. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. During the same period last year, the business earned $0.34 earnings per share. The Descartes Systems Group’s revenue was up 18.5% compared to the same quarter last year.

The Descartes Systems Group Trading Down 0.5 %

Shares of DSGX stock traded down $0.49 on Friday, reaching $91.10. The company’s stock had a trading volume of 41,348 shares, compared to its average volume of 146,546. The stock’s fifty day simple moving average is $86.30 and its 200-day simple moving average is $80.03. The Descartes Systems Group has a 1 year low of $69.59 and a 1 year high of $93.57. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 68.35 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Pathstone Family Office LLC lifted its position in shares of The Descartes Systems Group by 1.9% during the fourth quarter. Pathstone Family Office LLC now owns 8,530 shares of the technology company’s stock worth $590,000 after purchasing an additional 155 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of The Descartes Systems Group by 4.7% in the fourth quarter. Squarepoint Ops LLC now owns 3,452 shares of the technology company’s stock valued at $240,000 after acquiring an additional 156 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of The Descartes Systems Group by 6.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,750 shares of the technology company’s stock valued at $233,000 after acquiring an additional 238 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of The Descartes Systems Group by 5.2% in the first quarter. Raymond James Trust N.A. now owns 4,947 shares of the technology company’s stock valued at $363,000 after acquiring an additional 243 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of The Descartes Systems Group by 3.2% in the first quarter. Hsbc Holdings PLC now owns 7,888 shares of the technology company’s stock valued at $580,000 after acquiring an additional 246 shares in the last quarter. 76.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of The Descartes Systems Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank boosted their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a report on Thursday. BMO Capital Markets boosted their target price on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Wednesday, January 10th. Finally, CIBC upped their price target on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.78.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.