StockNews.com Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Buy

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other analysts have also recently weighed in on DSGX. BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price for the company. 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. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Scotiabank lifted their price objective 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus price target of $116.15.

The Descartes Systems Group Stock Up 1.4 %

DSGX opened at $113.15 on Tuesday. The Descartes Systems Group has a 52-week low of $80.39 and a 52-week high of $122.88. The company has a 50 day moving average of $114.84 and a two-hundred day moving average of $105.46. The company has a market cap of $9.67 billion, a P/E ratio of 71.16 and a beta of 0.99.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new position in The Descartes Systems Group during the 2nd quarter valued at $329,000. Andra AP fonden bought a new position in The Descartes Systems Group during the second quarter valued at about $77,000. AGF Management Ltd. grew its holdings in The Descartes Systems Group by 1.4% during the second quarter. AGF Management Ltd. now owns 74,077 shares of the technology company’s stock worth $7,177,000 after acquiring an additional 1,012 shares during the period. American Century Companies Inc. grew its holdings in The Descartes Systems Group by 65.4% during the second quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock worth $23,640,000 after acquiring an additional 96,431 shares during the period. Finally, Nicholas Investment Partners LP raised its position in The Descartes Systems Group by 0.8% in the second quarter. Nicholas Investment Partners LP now owns 92,282 shares of the technology company’s stock worth $8,937,000 after acquiring an additional 766 shares in 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.