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

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

Other research analysts have also issued reports about the stock. Royal Bank of Canada increased their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. TD Securities increased their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets increased their target price on 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. Finally, National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Five equities research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Up 0.1 %

The Descartes Systems Group stock opened at $115.04 on Wednesday. The Descartes Systems Group has a 52 week low of $82.88 and a 52 week high of $122.88. The firm’s 50-day simple moving average is $115.51 and its 200 day simple moving average is $106.17. The firm has a market capitalization of $9.84 billion, a PE ratio of 72.35 and a beta of 0.99.

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the fourth quarter valued at about $54,000. GAMMA Investing LLC raised its position in The Descartes Systems Group by 4,950.0% in 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 last quarter. Blue Trust Inc. raised its position in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares during the last quarter. Avanza Fonder AB bought a new position in The Descartes Systems Group in the fourth quarter valued at approximately $118,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $122,000 after acquiring an additional 279 shares during the period. 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.