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

StockNews.com lowered shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a report released on Wednesday morning.

A number of other research analysts have also recently issued reports on the stock. Scotiabank boosted 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 report on Wednesday, December 4th. BMO Capital Markets boosted 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 report on Wednesday, December 4th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $114.97 on Wednesday. The stock has a market cap of $9.83 billion, a P/E ratio of 72.31 and a beta of 0.99. The firm has a 50 day moving average price of $115.47 and a 200 day moving average price of $106.11. The Descartes Systems Group has a 52-week low of $82.88 and a 52-week high of $122.88.

Institutional Trading of The Descartes Systems Group

A number of institutional investors have recently made changes to their positions in DSGX. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the fourth quarter worth $54,000. GAMMA Investing LLC raised its position in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares in the last quarter. Blue Trust Inc. raised its position in The Descartes Systems Group by 931.7% during the third 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. Avanza Fonder AB bought a new stake in The Descartes Systems Group during the fourth quarter worth $118,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in The Descartes Systems Group by 28.6% during the second 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 in the last quarter. Institutional investors 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.