BidaskClub downgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other research firms have also recently commented on DSGX. Zacks Investment Research raised Descartes Systems Group from a sell rating to a hold rating in a research note on Wednesday, November 22nd. Royal Bank of Canada raised their target price on Descartes Systems Group from $32.00 to $35.00 and gave the stock an outperform rating in a research note on Wednesday, November 22nd. Barclays raised their target price on Descartes Systems Group from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Thursday, November 30th. Raymond James Financial cut Descartes Systems Group from an outperform rating to a market perform rating in a research note on Thursday, November 30th. Finally, BMO Capital Markets reissued a hold rating and issued a $31.00 price objective on shares of Descartes Systems Group in a research note on Wednesday, November 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $33.39.

Descartes Systems Group (NASDAQ:DSGX) traded up $0.20 during midday trading on Tuesday, reaching $28.10. The company had a trading volume of 43,099 shares, compared to its average volume of 61,369. Descartes Systems Group has a fifty-two week low of $21.00 and a fifty-two week high of $31.23. The firm has a market capitalization of $2,141.98, a PE ratio of 82.65 and a beta of 0.51. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.11.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, November 29th. The technology company reported $0.08 EPS for the quarter, missing the 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 firm’s quarterly revenue was up 20.4% compared to the same quarter last year. sell-side analysts predict that Descartes Systems Group will post 0.37 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Descartes Systems Group by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after acquiring an additional 860 shares during the period. Legal & General Group Plc grew its stake in Descartes Systems Group by 6.8% in the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after acquiring an additional 495 shares during the period. Suntrust Banks Inc. grew its stake in Descartes Systems Group by 4.9% in the second quarter. Suntrust Banks Inc. now owns 14,338 shares of the technology company’s stock valued at $348,000 after acquiring an additional 672 shares during the period. Envestnet Asset Management Inc. grew its stake in Descartes Systems Group by 13.6% in the third quarter. Envestnet Asset Management Inc. now owns 15,285 shares of the technology company’s stock valued at $418,000 after acquiring an additional 1,829 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Descartes Systems Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 17,253 shares of the technology company’s stock valued at $420,000 after acquiring an additional 1,064 shares during the period. 76.96% of the stock is 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.

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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