The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Lowered by StockNews.com

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Other research analysts have also issued research reports about the stock. Barclays raised shares of The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. TD Securities raised their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a research report on Friday, November 29th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Thursday, September 26th. Finally, Loop Capital began coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $117.92.

The Descartes Systems Group Stock Up 2.2 %

Shares of NASDAQ:DSGX traded up $2.43 during trading on Wednesday, reaching $114.97. The stock had a trading volume of 158,978 shares, compared to its average volume of 192,609. The stock has a fifty day simple moving average of $115.43 and a two-hundred day simple moving average of $106.04. The Descartes Systems Group has a 52 week low of $82.88 and a 52 week high of $122.88. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 72.31 and a beta of 0.99.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently modified their holdings of the business. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC lifted its position in The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after acquiring an additional 495 shares in the last quarter. Blue Trust Inc. lifted its position in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company's stock valued at $63,000 after acquiring an additional 587 shares in the last quarter. Avanza Fonder AB acquired a new position in The Descartes Systems Group in the 4th quarter worth $118,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in The Descartes Systems Group by 28.6% during the 2nd 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 in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.