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

StockNews.com downgraded 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 Thursday.

Several other research analysts have also issued reports on DSGX. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. TD Securities raised their price objective on 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. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Stock Performance

DSGX stock opened at $119.73 on Thursday. The company has a market capitalization of $10.23 billion, a P/E ratio of 75.30 and a beta of 0.98. The company has a fifty day moving average price of $111.56 and a 200-day moving average price of $102.82. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $122.88.

Institutional Investors Weigh In On The Descartes Systems Group

A number of large investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC bought a new position in shares of The Descartes Systems Group during the 2nd quarter worth about $527,000. Plato Investment Management Ltd bought a new position in The Descartes Systems Group in the third quarter worth approximately $2,308,000. Massachusetts Financial Services Co. MA boosted its holdings in The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after acquiring an additional 9,768 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in The Descartes Systems Group by 8.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock valued at $57,514,000 after acquiring an additional 47,481 shares during the period. Finally, Fiera Capital Corp increased its holdings in shares of The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after acquiring an additional 81,263 shares in the last quarter. 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.