The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Lowered by StockNews.com

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other analysts have also commented on DSGX. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of The Descartes Systems Group in a research note on Thursday, April 11th. TD Securities boosted their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Wolfe Research upgraded 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. CIBC upgraded The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the stock from $96.50 to $101.00 in a report on Tuesday, April 16th. Finally, BMO Capital Markets raised their target price on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $95.48 on Friday. The Descartes Systems Group has a 1 year low of $69.59 and a 1 year high of $96.66. The business’s fifty day moving average is $91.21 and its 200-day moving average is $85.29. The stock has a market cap of $8.14 billion, a PE ratio of 71.25 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period in the previous year, the company earned $0.34 earnings per share. The Descartes Systems Group’s revenue was up 18.5% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new position in The Descartes Systems Group in the 1st quarter valued at approximately $28,000. Brown Brothers Harriman & Co. acquired a new position in shares of The Descartes Systems Group in the fourth quarter worth $27,000. Accent Capital Management LLC acquired a new stake in The Descartes Systems Group during the fourth quarter valued at $32,000. Operose Advisors LLC purchased a new position in The Descartes Systems Group in the third quarter valued at about $35,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

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.