The Descartes Systems Group (NASDAQ:DSGX) Downgraded 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 report issued on Friday morning.

A number of other research analysts also recently issued reports on the stock. CIBC upgraded shares of The Descartes Systems Group from a neutral rating to a sector outperform rating and boosted their price target for the stock from $96.50 to $101.00 in a research report on Tuesday, April 16th. Stephens upped their price target on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Wolfe Research raised The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 price objective for the company in a research report on Wednesday, January 10th. Scotiabank upped their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the company a sector outperform rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $110.00 target price on shares of The Descartes Systems Group in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $98.44.

The Descartes Systems Group Stock Up 0.2 %

Shares of The Descartes Systems Group stock opened at $95.48 on Friday. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 71.25 and a beta of 0.91. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $96.66. The company’s fifty day moving average is $91.21 and its 200 day moving average is $85.21.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results 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 firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, equities analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group during the 4th quarter valued at $27,000. Central Pacific Bank Trust Division bought a new position in shares of The Descartes Systems Group during the first quarter valued at about $28,000. Accent Capital Management LLC bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at about $32,000. Operose Advisors LLC purchased a new position in The Descartes Systems Group during the third quarter worth about $35,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. Institutional investors 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.