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

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

Several other equities analysts have also commented on DSGX. Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Wednesday, January 10th. Scotiabank boosted their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research note on Thursday, March 7th. TD Securities increased their price target on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays boosted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Finally, Stephens lifted their price target on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.44.

The Descartes Systems Group Price Performance

DSGX opened at $95.48 on Friday. The business has a fifty day moving average price of $91.21 and a 200 day moving average price of $85.29. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $96.66. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 71.25 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 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 business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, research analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new stake in shares of The Descartes Systems Group during the first quarter worth $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $27,000. Accent Capital Management LLC purchased a new position in The Descartes Systems Group during the fourth quarter worth about $32,000. Operose Advisors LLC acquired a new stake in The Descartes Systems Group in the third quarter valued at about $35,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings 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 valued at $45,000 after purchasing an additional 429 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

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.