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

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 research firms also recently commented on DSGX. CIBC raised The Descartes Systems Group from a neutral rating to a sector outperform rating and increased their price objective for the company from $96.50 to $101.00 in a report on Tuesday, April 16th. Scotiabank raised their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a sector outperform rating in a research note on Thursday, March 7th. William Blair reaffirmed an outperform rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. Barclays lifted their target price on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an underweight rating in a report on Tuesday, February 20th. Finally, 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 report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $98.44.

The Descartes Systems Group Trading Up 0.2 %

NASDAQ DSGX opened at $95.48 on Friday. The company has a 50 day moving average of $91.21 and a 200-day moving average of $85.37. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $96.66. The firm 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 (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. On average, analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group in the fourth quarter worth $27,000. Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group during the first quarter valued at approximately $28,000. Accent Capital Management LLC purchased a new stake in The Descartes Systems Group during the fourth quarter valued at approximately $32,000. Operose Advisors LLC purchased a new stake in The Descartes Systems Group during the third quarter valued at approximately $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 valued at $45,000 after acquiring an additional 429 shares during the last quarter. Hedge funds and other 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.