The Descartes Systems Group (NASDAQ:DSGX) Cut to Hold at 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 report published on Thursday.

Other equities analysts have also issued reports about the stock. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. TD Securities raised their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price target on 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. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, BMO Capital Markets lifted their price objective on 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. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.17.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $119.73 on Thursday. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 75.30 and a beta of 0.98. The stock’s fifty day moving average price is $111.56 and its two-hundred day moving average price is $102.82. The Descartes Systems Group has a one year low of $79.21 and a one year high of $122.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DSGX. Lord Abbett & CO. LLC grew its holdings in shares of The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the last quarter. DGS Capital Management LLC bought a new stake in shares of The Descartes Systems Group during the third quarter worth $203,000. Franklin Resources Inc. increased its holdings in shares of The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after buying an additional 40,807 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of The Descartes Systems Group by 8.4% in the 3rd quarter. Synovus Financial Corp now owns 15,354 shares of the technology company’s stock valued at $1,581,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at $465,000. 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.