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 report issued on Wednesday morning.

DSGX has been the topic of several other reports. TD Securities upped their price objective 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. Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued 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 $117.92.

The Descartes Systems Group Trading Up 0.7 %

Shares of NASDAQ:DSGX opened at $115.85 on Wednesday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 72.86 and a beta of 0.99. The Descartes Systems Group has a 12-month low of $84.11 and a 12-month high of $122.88. The business has a 50-day moving average price of $115.53 and a 200 day moving average price of $106.30.

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. Conestoga Capital Advisors LLC grew its holdings in The Descartes Systems Group by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after buying an additional 52,485 shares during the last quarter. Fiera Capital Corp boosted its position in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the period. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after acquiring an additional 91,301 shares during the last quarter. Bank of Montreal Can increased its position in The Descartes Systems Group by 1.4% during the second quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after acquiring an additional 21,105 shares during the period. Finally, Geneva Capital Management LLC raised its stake in The Descartes Systems Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after purchasing an additional 19,002 shares during the last quarter. Institutional investors and hedge funds 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.