Zacks Investment Research upgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a sell rating to a hold rating in a report issued on Wednesday.

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. “

Several other research firms have also issued reports on DSGX. BidaskClub lowered Descartes Systems Group from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. Canaccord Genuity raised their price objective on Descartes Systems Group from $34.00 to $35.00 and gave the company a buy rating in a research note on Thursday, May 31st. Morgan Stanley raised their price objective on Descartes Systems Group from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Friday, June 1st. Barclays raised their price objective on Descartes Systems Group from $33.00 to $35.00 and gave the company an overweight rating in a research note on Thursday, May 31st. Finally, TD Securities raised their price objective on Descartes Systems Group from $35.00 to $36.00 and gave the company a buy rating in a research note on Thursday, May 31st. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Descartes Systems Group has a consensus rating of Buy and a consensus price target of $34.33.

Descartes Systems Group stock traded down $0.45 during midday trading on Wednesday, reaching $33.05. 246,057 shares of the stock traded hands, compared to its average volume of 76,042. Descartes Systems Group has a 12 month low of $24.85 and a 12 month high of $34.90. The firm has a market cap of $2.58 billion, a PE ratio of 94.43 and a beta of 0.43. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.10.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, May 30th. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Descartes Systems Group had a net margin of 10.81% and a return on equity of 5.55%. The firm had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.70 million. Descartes Systems Group’s revenue was up 22.9% compared to the same quarter last year. equities research analysts forecast that Descartes Systems Group will post 0.44 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of DSGX. Sei Investments Co. lifted its stake in shares of Descartes Systems Group by 3,015.9% in the 2nd quarter. Sei Investments Co. now owns 4,518 shares of the technology company’s stock valued at $147,000 after purchasing an additional 4,373 shares during the last quarter. Keybank National Association OH bought a new stake in shares of Descartes Systems Group in the 2nd quarter valued at approximately $222,000. Commonwealth Equity Services LLC bought a new stake in shares of Descartes Systems Group during the 1st quarter worth approximately $269,000. Citadel Advisors LLC lifted its stake in shares of Descartes Systems Group by 56.9% during the 1st quarter. Citadel Advisors LLC now owns 15,920 shares of the technology company’s stock worth $455,000 after acquiring an additional 5,775 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Descartes Systems Group by 12.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 17,660 shares of the technology company’s stock worth $574,000 after acquiring an additional 1,900 shares during the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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