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

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

Several other research firms have also recently issued reports on DSGX. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price on the stock. BMO Capital Markets increased their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. TD Securities lifted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Trading Down 1.5 %

Shares of DSGX stock traded down $1.71 during trading hours on Wednesday, hitting $115.94. 219,002 shares of the company were exchanged, compared to its average volume of 193,295. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 72.92 and a beta of 0.99. The Descartes Systems Group has a 52-week low of $84.12 and a 52-week high of $122.88. The firm has a fifty day simple moving average of $116.19 and a 200 day simple moving average of $107.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Mather Group LLC. grew its holdings in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Trust Co. of Vermont purchased a new position in The Descartes Systems Group in the fourth quarter valued at $54,000. GAMMA Investing LLC raised its position in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. boosted its stake in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $90,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.