StockNews.com Upgrades The Descartes Systems Group (NASDAQ:DSGX) to “Buy”

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other research analysts also recently issued research reports about the company. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. BMO Capital Markets lifted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank raised their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.15.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $113.15 on Tuesday. The firm’s 50 day simple moving average is $114.84 and its 200-day simple moving average is $105.46. The Descartes Systems Group has a fifty-two week low of $80.39 and a fifty-two week high of $122.88. The company has a market cap of $9.67 billion, a P/E ratio of 71.16 and a beta of 0.99.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its position in The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 2,250 shares during the period. Plato Investment Management Ltd bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $2,308,000. Massachusetts Financial Services Co. MA grew its stake in The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after buying an additional 9,768 shares during the last quarter. Barclays PLC raised its holdings in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares during the period. Finally, Geode Capital Management LLC lifted its position in The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after acquiring an additional 46,523 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

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.