Descartes Systems Group (NASDAQ:DSGX) Stock Rating Lowered by Zacks Investment Research

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, January 22nd.

According to Zacks, “Descartes Systems Group Inc. a leading provider of software-as-a-service logistics solutions. It is delivering results across the globe today for organizations that operate logistics-intensive businesses. Descartes’ logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based ‘nano’ sized applications to provide messaging services between logistics trading partners, book-to-bill services for contract carriers and private fleet management services for organizations of all sizes. These solutions and services help Descartes’ customers reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven and improve pick up and delivery reliability. Descartes Systems Group Inc. is headquartered in Waterloo, Canada. “

A number of other brokerages have also weighed in on DSGX. BMO Capital Markets reiterated a “hold” rating and set a $31.00 target price on shares of Descartes Systems Group in a research report on Wednesday, November 29th. BidaskClub downgraded shares of Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Royal Bank of Canada increased their price target on shares of Descartes Systems Group from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Barclays increased their price target on shares of Descartes Systems Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. Finally, Raymond James Financial downgraded shares of Descartes Systems Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 30th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.39.

Descartes Systems Group (NASDAQ:DSGX) traded up $0.45 on Monday, reaching $26.45. 55,500 shares of the company’s stock traded hands, compared to its average volume of 71,930. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.13 and a current ratio of 1.13. Descartes Systems Group has a 1 year low of $21.00 and a 1 year high of $31.23. The firm has a market capitalization of $1,996.11, a P/E ratio of 76.47 and a beta of 0.49.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Descartes Systems Group had a return on equity of 5.83% and a net margin of 11.61%. The business had revenue of $62.00 million for the quarter, compared to analyst estimates of $60.01 million. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. analysts forecast that Descartes Systems Group will post 0.37 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the business. Mawer Investment Management Ltd. raised its stake in shares of Descartes Systems Group by 6.1% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,228,983 shares of the technology company’s stock worth $120,235,000 after acquiring an additional 243,248 shares in the last quarter. Jarislowsky Fraser Ltd grew its holdings in shares of Descartes Systems Group by 1.0% in the third quarter. Jarislowsky Fraser Ltd now owns 4,074,359 shares of the technology company’s stock worth $110,862,000 after purchasing an additional 40,177 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Descartes Systems Group by 16.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,835,675 shares of the technology company’s stock worth $80,533,000 after purchasing an additional 409,170 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Descartes Systems Group by 14.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,671,803 shares of the technology company’s stock worth $47,479,000 after purchasing an additional 214,243 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Descartes Systems Group by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,546,936 shares of the technology company’s stock worth $37,669,000 after purchasing an additional 69,036 shares during the last quarter. 76.68% of the stock is currently owned by hedge funds and other institutional investors.

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About Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

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