The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Lowered by StockNews.com

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

A number of other research firms have also commented on DSGX. 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 report on Thursday, September 5th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped 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. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Five 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 company. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $110.75.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $116.02 on Monday. The stock’s 50-day moving average is $108.71 and its two-hundred day moving average is $101.68. The Descartes Systems Group has a fifty-two week low of $79.21 and a fifty-two week high of $118.49. The stock has a market cap of $9.92 billion, a PE ratio of 78.39 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the prior year, the business posted $0.32 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities 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

Several institutional investors have recently made changes to their positions in DSGX. Avior Wealth Management LLC lifted its stake in The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after purchasing an additional 117 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in The Descartes Systems Group by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after buying an additional 137 shares in the last quarter. Assenagon Asset Management S.A. grew its position in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after acquiring an additional 158 shares during the period. Assetmark Inc. grew its position in The Descartes Systems Group by 3.5% in the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after acquiring an additional 197 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of The Descartes Systems Group by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock valued at $137,000 after acquiring an additional 219 shares during the period. 77.73% of the stock is currently 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.