The Descartes Systems Group (TSE:DSG) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of The Descartes Systems Group Inc. (TSE:DSG) (NASDAQ:DSGX) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$109.58 and traded as high as C$116.00. The Descartes Systems Group shares last traded at C$115.46, with a volume of 279,596 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

The Descartes Systems Group Trading Up 2.3%

The company has a current ratio of 2.02, a quick ratio of 1.85 and a debt-to-equity ratio of 0.46. The firm has a market cap of C$10.11 billion, a price-to-earnings ratio of 54.95, a PEG ratio of 2.39 and a beta of 0.07. The company has a fifty day moving average price of C$109.84 and a 200-day moving average price of C$103.13.

The Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) last posted its earnings results on Thursday, September 10th. The company reported C$0.80 EPS for the quarter. The firm had revenue of C$281.94 million for the quarter. The Descartes Systems Group had a return on equity of 11.69% and a net margin of 24.25%. As a group, research analysts expect that The Descartes Systems Group Inc. will post 3.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Edward Ryan sold 27,888 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of C$111.68, for a total transaction of C$3,114,531.84. Corporate insiders own 0.02% of the company’s stock.

The Descartes Systems Group Company Profile

Descartes powers more responsive, efficient, secure and sustainable international and domestic supply chains by uniting logistics-intensive businesses on its Global Logistics Network (‘GLN’). Shippers, carriers, and logistics service providers connect and collaborate on the GLN, leveraging technology, data and artificial intelligence (‘AI’) to manage last mile deliveries, domestic and international shipments, transportation rating and payment, global trade research, customs compliance and a variety of regulatory processes.