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

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

Several other equities analysts also recently commented on the stock. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Scotiabank boosted their price objective on 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, Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Four investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.15.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded down $2.91 during midday trading on Tuesday, reaching $111.58. 242,655 shares of the company’s stock were exchanged, compared to its average volume of 172,389. The stock’s 50-day simple moving average is $114.84 and its 200 day simple moving average is $105.46. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 70.18 and a beta of 0.99. The Descartes Systems Group has a 52 week low of $79.70 and a 52 week high of $122.88.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. acquired a new position in The Descartes Systems Group in the 2nd quarter worth about $329,000. Andra AP fonden acquired a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $77,000. AGF Management Ltd. raised its holdings in The Descartes Systems Group by 1.4% in the 2nd quarter. AGF Management Ltd. now owns 74,077 shares of the technology company’s stock valued at $7,177,000 after buying an additional 1,012 shares during the last quarter. American Century Companies Inc. boosted its position in The Descartes Systems Group by 65.4% during the 2nd quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock worth $23,640,000 after buying an additional 96,431 shares during the period. Finally, Nicholas Investment Partners LP grew its holdings in The Descartes Systems Group by 0.8% during the 2nd quarter. Nicholas Investment Partners LP now owns 92,282 shares of the technology company’s stock worth $8,937,000 after acquiring an additional 766 shares during the last quarter. 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.