The Descartes Systems Group (NASDAQ:DSGX) Downgraded to Hold Rating 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 report published on Wednesday morning.

Several other equities analysts also recently commented on the stock. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital began coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. 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 research note on Friday, November 29th. Finally, TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Up 2.2 %

NASDAQ DSGX opened at $114.97 on Wednesday. The Descartes Systems Group has a 1 year low of $82.88 and a 1 year high of $122.88. The firm has a market capitalization of $9.83 billion, a P/E ratio of 72.31 and a beta of 0.99. The firm’s fifty day moving average price is $115.47 and its two-hundred day moving average price is $106.11.

Institutional Investors Weigh In On The Descartes Systems Group

Large investors have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after buying an additional 2,250 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of The Descartes Systems Group in the third quarter worth about $2,308,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 during the last quarter. Barclays PLC lifted its holdings in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of The Descartes Systems Group by 10.7% in the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after acquiring an additional 46,523 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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.