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

StockNews.com cut shares of The Descartes Systems Group (NASDAQ:DSGX - Free Report) TSE: DSG from a buy rating to a hold rating in a research report report published on Thursday morning.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price target 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. TD Securities lifted their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a report on Thursday, September 26th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a "buy" rating in a research note on Thursday, September 5th. Finally, National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus price target of $114.17.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded up $1.29 during mid-day trading on Thursday, hitting $121.24. 125,462 shares of the stock were exchanged, compared to its average volume of 160,355. The Descartes Systems Group has a 12 month low of $79.21 and a 12 month high of $122.88. The company has a 50-day simple moving average of $111.20 and a 200 day simple moving average of $102.66. The company has a market capitalization of $10.36 billion, a P/E ratio of 76.25 and a beta of 0.98.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DSGX. Envestnet Portfolio Solutions Inc. grew its position in shares of The Descartes Systems Group by 52.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company's stock valued at $1,014,000 after purchasing an additional 3,605 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company's stock valued at $371,000 after purchasing an additional 158 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $527,000. Portside Wealth Group LLC bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $367,000. Finally, Cidel Asset Management Inc. lifted its holdings in shares of The Descartes Systems Group by 19.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 104,142 shares of the technology company's stock worth $10,088,000 after acquiring an additional 16,725 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.