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

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

A number of other analysts have also recently weighed in on the stock. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets lifted 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 research note on Wednesday, December 4th. Scotiabank raised their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price target on shares of 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. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Up 1.4 %

Shares of NASDAQ DSGX opened at $112.54 on Wednesday. The Descartes Systems Group has a 12-month low of $82.88 and a 12-month high of $122.88. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 70.78 and a beta of 0.99. The stock’s 50 day simple moving average is $115.33 and its 200 day simple moving average is $105.93.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. GAMMA Investing LLC boosted its stake in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the period. Blue Trust Inc. boosted its stake in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after acquiring an additional 279 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 26.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock worth $156,000 after purchasing an additional 320 shares during the last quarter. Finally, Park Place Capital Corp grew its stake in The Descartes Systems Group by 76.6% in the 3rd quarter. Park Place Capital Corp now owns 1,559 shares of the technology company’s stock valued at $161,000 after buying an additional 676 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.