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

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 released on Monday morning.

Several other brokerages also recently commented on DSGX. Royal Bank of Canada lifted their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. BMO Capital Markets lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $114.17.

The Descartes Systems Group Stock Up 3.3 %

DSGX stock opened at $119.90 on Monday. The business has a 50 day moving average price of $109.07 and a two-hundred day moving average price of $101.81. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 81.01 and a beta of 0.98. The Descartes Systems Group has a twelve month low of $79.21 and a twelve month high of $122.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted 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 company had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. 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 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. Canandaigua National Bank & Trust Co. acquired a new position in The Descartes Systems Group in the 2nd quarter valued at $295,000. Envestnet Portfolio Solutions Inc. raised its holdings in The Descartes Systems Group by 52.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock valued at $1,014,000 after acquiring an additional 3,605 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after purchasing an additional 158 shares during the last quarter. Ellsworth Advisors LLC bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $527,000. Finally, Portside Wealth Group LLC bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $367,000. 77.73% of the stock is 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.