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

StockNews.com downgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other equities research analysts also recently issued reports on DSGX. Scotiabank raised their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a sector outperform rating in a research report on Thursday, March 7th. CIBC raised shares of The Descartes Systems Group from a neutral rating to a sector outperform rating and boosted their price objective for the company from $96.50 to $101.00 in a report on Tuesday, April 16th. Raymond James increased their price target on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. BMO Capital Markets raised their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. Finally, Barclays lifted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an underweight rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $98.44.

The Descartes Systems Group Stock Up 1.7 %

Shares of The Descartes Systems Group stock opened at $97.11 on Friday. The stock has a market cap of $8.28 billion, a P/E ratio of 72.47 and a beta of 0.91. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $97.29. The business’s 50 day moving average is $91.42 and its 200-day moving average is $85.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, sell-side analysts expect that The Descartes Systems Group will post 1.69 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $92,571,000. Clearbridge Investments LLC acquired a new position in The Descartes Systems Group in the fourth quarter valued at approximately $36,767,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Descartes Systems Group by 497.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock worth $36,001,000 after buying an additional 356,560 shares in the last quarter. Riverbridge Partners LLC grew its position in shares of The Descartes Systems Group by 36.6% during the 1st quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after buying an additional 261,688 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of The Descartes Systems Group by 3,799.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock valued at $21,856,000 after acquiring an additional 253,334 shares in 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.