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

StockNews.com lowered shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

DSGX has been the topic of several other research reports. Royal Bank of Canada raised their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. BMO Capital Markets raised their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Up 1.3 %

NASDAQ DSGX opened at $118.93 on Thursday. The Descartes Systems Group has a fifty-two week low of $84.12 and a fifty-two week high of $122.88. The business has a 50 day moving average price of $116.22 and a two-hundred day moving average price of $107.91. The stock has a market cap of $10.18 billion, a PE ratio of 74.80 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the firm earned $0.31 EPS. Sell-side analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Raymond James Financial Inc. bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth approximately $19,392,000. Aigen Investment Management LP lifted its position in shares of The Descartes Systems Group by 183.1% during the 4th quarter. Aigen Investment Management LP now owns 7,603 shares of the technology company’s stock valued at $864,000 after acquiring an additional 4,917 shares during the last quarter. Atria Investments Inc boosted its stake in shares of The Descartes Systems Group by 11.5% during the 4th quarter. Atria Investments Inc now owns 7,035 shares of the technology company’s stock worth $799,000 after acquiring an additional 724 shares in the last quarter. Assetmark Inc. grew its holdings in shares of The Descartes Systems Group by 58.7% in the 4th quarter. Assetmark Inc. now owns 9,268 shares of the technology company’s stock worth $1,053,000 after acquiring an additional 3,429 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth $43,000. Institutional investors 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.