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

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 research note issued on Thursday.

Other equities research analysts also recently issued research reports about the company. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. TD Securities lifted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Trading Up 0.2 %

Shares of DSGX stock opened at $119.95 on Thursday. The Descartes Systems Group has a twelve month low of $79.21 and a twelve month high of $122.88. The stock has a fifty day simple moving average of $110.79 and a two-hundred day simple moving average of $102.53. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 75.44 and a beta of 0.98.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently modified their holdings of DSGX. Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $61,000. Blue Trust Inc. increased its stake in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares during the period. Andra AP fonden purchased a new position in The Descartes Systems Group during the 2nd quarter worth $77,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after acquiring an additional 704 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after acquiring an additional 279 shares in 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.