StockNews.com downgraded shares of The Descartes Systems Group (NASDAQ:DSGX - Free Report) TSE: DSG from a buy rating to a hold rating in a research note published on Thursday morning.
DSGX has been the topic of a number of other research reports. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a "buy" rating and a $140.00 target price on the stock. TD Securities increased their price objective 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. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a report on Friday, November 29th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $117.92.
Get Our Latest Analysis on DSGX
The Descartes Systems Group Stock Performance
NASDAQ DSGX traded up $0.92 during mid-day trading on Thursday, reaching $119.85. 255,967 shares of the stock were exchanged, compared to its average volume of 188,525. The Descartes Systems Group has a 1 year low of $84.12 and a 1 year high of $122.88. The business's 50 day moving average is $116.33 and its 200-day moving average is $108.12. The company has a market capitalization of $10.26 billion, a P/E ratio of 75.38 and a beta of 0.99.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the business posted $0.31 earnings per share. Equities analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in shares of The Descartes Systems Group by 20.4% in the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock valued at $1,368,000 after acquiring an additional 2,250 shares during the last quarter. Plato Investment Management Ltd purchased a new position in The Descartes Systems Group in the 3rd quarter worth about $2,308,000. Massachusetts Financial Services Co. MA increased its position in shares of The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company's stock worth $48,456,000 after acquiring an additional 9,768 shares in the last quarter. Barclays PLC raised its stake in The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company's stock valued at $1,031,000 after purchasing an additional 270 shares during the period. Finally, Canoe Financial LP purchased a new stake in The Descartes Systems Group in the 4th quarter worth about $7,939,000. Institutional investors and hedge funds own 77.73% of the company's stock.
The Descartes Systems Group Company Profile
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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.
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