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

StockNews.com cut shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other analysts have also issued reports on the company. Royal Bank of Canada upped their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Scotiabank increased their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, TD Securities lifted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Trading Up 0.7 %

Shares of DSGX stock opened at $115.85 on Wednesday. The Descartes Systems Group has a 1 year low of $84.11 and a 1 year high of $122.88. The firm’s 50 day moving average is $115.53 and its 200-day moving average is $106.30. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 72.86 and a beta of 0.99.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its stake in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after purchasing an additional 556,408 shares during the period. American Century Companies Inc. increased its position in shares of The Descartes Systems Group by 65.4% during the second quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock valued at $23,640,000 after buying an additional 96,431 shares during the period. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after buying an additional 91,301 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of The Descartes Systems Group by 53.2% in the second quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock worth $24,274,000 after buying an additional 86,998 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of The Descartes Systems Group by 3.3% in 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 during the period. 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.