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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other analysts also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Wolfe Research upgraded shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target for the company in a report on Wednesday, January 10th. Raymond James boosted their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. Finally, Scotiabank raised their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Stock Up 0.2 %

Shares of DSGX traded up $0.18 during midday trading on Friday, reaching $95.48. 126,398 shares of the stock were exchanged, compared to its average volume of 169,844. The company 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 12-month low of $69.59 and a 12-month high of $96.66. The firm has a 50 day simple moving average of $91.21 and a 200-day simple moving average of $85.21.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The Descartes Systems Group’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Research analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in The Descartes Systems Group by 19.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock valued at $228,000 after purchasing an additional 500 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 14.9% during the third quarter. Mackenzie Financial Corp now owns 1,760,128 shares of the technology company’s stock worth $126,435,000 after purchasing an additional 227,972 shares in the last quarter. Strs Ohio grew its stake in shares of The Descartes Systems Group by 80.0% during the third quarter. Strs Ohio now owns 90,000 shares of the technology company’s stock valued at $6,604,000 after purchasing an additional 40,000 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $291,000. Finally, TD Asset Management Inc raised its position in The Descartes Systems Group by 3.3% in the 3rd quarter. TD Asset Management Inc now owns 699,073 shares of the technology company’s stock worth $51,527,000 after purchasing an additional 22,009 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

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.