The Descartes Systems Group (NASDAQ:DSGX) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a report published on Thursday.

Other research analysts have also issued research reports about the stock. TD Securities boosted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Stephens upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Up 1.3 %

DSGX stock opened at $118.93 on Thursday. The firm has a market cap of $10.18 billion, a PE ratio of 74.80 and a beta of 0.99. The Descartes Systems Group has a 1 year low of $84.12 and a 1 year high of $122.88. The company has a fifty day simple moving average of $116.22 and a 200 day simple moving average of $107.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the firm posted $0.31 EPS. As a group, analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its holdings in The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 2,250 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at $2,308,000. Massachusetts Financial Services Co. MA grew its position in The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after acquiring an additional 9,768 shares during the period. Barclays PLC raised its stake in The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $7,939,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.