The Descartes Systems Group (NASDAQ:DSGX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research report released on Friday morning.

DSGX has been the topic of a number of other research reports. Barclays increased 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. William Blair reaffirmed an outperform rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Stephens boosted their price objective on 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. CIBC raised shares of The Descartes Systems Group from a neutral rating to a sector outperform rating and boosted their target price for the company from $96.50 to $101.00 in a research note on Tuesday, April 16th. Finally, TD Securities raised their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the company a buy rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $98.44.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $97.11 on Friday. The firm’s fifty day moving average price is $91.42 and its 200 day moving average price is $85.54. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 72.47 and a beta of 0.91. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $97.29.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new position in The Descartes Systems Group in the 1st quarter worth approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter worth $27,000. Accent Capital Management LLC purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at $32,000. Operose Advisors LLC acquired a new position in The Descartes Systems Group during the third quarter valued at $35,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake 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 acquiring an additional 429 shares in 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.