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

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

DSGX has been the topic of several other reports. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Scotiabank raised their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Stock Down 0.8 %

DSGX stock opened at $115.97 on Monday. The Descartes Systems Group has a 12 month low of $79.21 and a 12 month high of $118.49. The firm has a market cap of $9.91 billion, a P/E ratio of 78.36 and a beta of 0.97. The company’s 50-day moving average price is $108.44 and its two-hundred day moving average price is $101.55.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the business earned $0.32 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities analysts predict that The Descartes Systems Group will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DSGX. Canandaigua National Bank & Trust Co. acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $295,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of The Descartes Systems Group by 52.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock worth $1,014,000 after purchasing an additional 3,605 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after purchasing an additional 158 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $527,000. Finally, Portside Wealth Group LLC acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $367,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.