The Descartes Systems Group (NASDAQ:DSGX) Rating Lowered to Hold at StockNews.com

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued research reports about the stock. TD Securities raised their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $112.54 on Wednesday. The Descartes Systems Group has a one year low of $82.88 and a one year high of $122.88. The firm has a market cap of $9.62 billion, a PE ratio of 70.78 and a beta of 0.99. The firm’s fifty day moving average is $115.33 and its two-hundred day moving average is $105.93.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Jane Street Group LLC boosted its position in shares of The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after buying an additional 2,250 shares during the period. Plato Investment Management Ltd acquired a new stake in The Descartes Systems Group in the third quarter valued at approximately $2,308,000. Massachusetts Financial Services Co. MA grew its holdings in The Descartes Systems Group by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after purchasing an additional 9,768 shares in the last quarter. Barclays PLC raised its position in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 270 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of The Descartes Systems Group by 10.7% during the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after purchasing an additional 46,523 shares during the last quarter. 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.