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 Monday morning.

A number of other brokerages have also recently weighed in on DSGX. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Scotiabank increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $114.17.

The Descartes Systems Group Stock Up 3.3 %

Shares of DSGX stock opened at $119.90 on Monday. The stock has a 50 day moving average of $109.07 and a 200-day moving average of $101.81. The firm has a market cap of $10.25 billion, a PE ratio of 81.01 and a beta of 0.98. The Descartes Systems Group has a 12 month low of $79.21 and a 12 month high of $122.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts predict that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group in the second quarter valued at about $61,000. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 587 shares during the period. Andra AP fonden acquired a new stake in shares of The Descartes Systems Group during the second quarter worth about $77,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 279 shares during the period. 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.