The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) had its price objective trimmed by Barclays from $60.00 to $58.00 in a report issued on Thursday, The Fly reports. The firm currently has an underweight rating on the technology company's stock.
Several other equities research analysts also recently issued reports on DSGX. StockNews.com assumed coverage on The Descartes Systems Group in a report on Wednesday, October 12th. They set a hold rating for the company. Canaccord Genuity Group upped their price objective on The Descartes Systems Group from $74.00 to $77.00 in a research note on Thursday, September 8th. TD Securities upped their price objective on The Descartes Systems Group from $84.00 to $85.00 and gave the company a buy rating in a research note on Thursday, September 8th. Wolfe Research downgraded The Descartes Systems Group from an outperform rating to a peer perform rating in a research note on Thursday, November 17th. Finally, Canaccord Genuity Group increased their price target on The Descartes Systems Group from $74.00 to $77.00 and gave the stock a buy rating in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of Hold and a consensus price target of $75.56.
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The Descartes Systems Group Trading Up 2.9 %
Shares of The Descartes Systems Group stock opened at $68.37 on Thursday. The stock has a fifty day simple moving average of $68.08 and a 200 day simple moving average of $66.76. The Descartes Systems Group has a 12-month low of $56.19 and a 12-month high of $83.65. The company has a market capitalization of $5.80 billion, a P/E ratio of 63.90 and a beta of 1.03.
Institutional Trading of The Descartes Systems Group
A number of institutional investors have recently added to or reduced their stakes in DSGX. Balyasny Asset Management LLC purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at about $3,039,000. Fred Alger Management LLC purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at about $30,000. Jane Street Group LLC raised its holdings in shares of The Descartes Systems Group by 1,893.7% in the 3rd quarter. Jane Street Group LLC now owns 223,493 shares of the technology company's stock valued at $14,199,000 after acquiring an additional 212,283 shares in the last quarter. Maven Securities LTD bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $235,000. Finally, BNP Paribas Arbitrage SNC bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $128,000. Hedge funds and other institutional investors own 80.28% of the company's stock.
About The Descartes Systems Group
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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.
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