StockNews.com Lowers The Descartes Systems Group (NASDAQ:DSGX) to Hold

StockNews.com cut 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 Friday morning.

DSGX has been the topic of a number of other research reports. Stephens upped 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. Royal Bank of Canada reiterated an outperform rating and issued a $110.00 price target on shares of The Descartes Systems Group in a research note on Thursday, April 11th. Raymond James upped their price target on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a research note on Thursday, March 7th. William Blair reissued an outperform rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Finally, Wolfe Research raised The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 target price for the company in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $98.44.

The Descartes Systems Group Trading Up 0.2 %

Shares of DSGX stock opened at $95.48 on Friday. 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 cap of $8.14 billion, a PE ratio of 71.25 and a beta of 0.91. The company’s fifty day moving average price is $91.21 and its 200-day moving average price is $85.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly 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 company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The Descartes Systems Group’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently made changes to their positions in DSGX. Norges Bank purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $92,571,000. Clearbridge Investments LLC bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $36,767,000. Allspring Global Investments Holdings LLC lifted its position in The Descartes Systems Group by 497.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock worth $36,001,000 after buying an additional 356,560 shares during the last quarter. Riverbridge Partners LLC lifted its position in The Descartes Systems Group by 36.6% in the first quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after buying an additional 261,688 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in The Descartes Systems Group by 3,799.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock worth $21,856,000 after buying an additional 253,334 shares during the last quarter. Hedge funds and other 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.