Zacks Investment Research upgraded shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) from a sell rating to a hold rating in a research note published 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. “

A number of other analysts have also recently weighed in on the company. Raymond James Financial, Inc. upped their price target on The Descartes Systems Group from $27.50 to $38.00 and gave the company an outperform rating in a research report on Thursday, September 7th. BMO Capital Markets upped their price target on The Descartes Systems Group from $26.00 to $29.00 and gave the company a market perform rating in a research report on Thursday, September 7th. Canaccord Genuity reiterated a buy rating and issued a $30.00 price target (up from $28.00) on shares of The Descartes Systems Group in a research report on Thursday, September 7th. TD Securities upped their price target on The Descartes Systems Group from $29.00 to $40.50 and gave the company a buy rating in a research report on Thursday, September 7th. Finally, Scotiabank upped their price target on The Descartes Systems Group from $28.00 to $36.00 and gave the company an outperform rating in a research report on Thursday, September 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The Descartes Systems Group currently has an average rating of Buy and a consensus target price of $32.39.

Shares of The Descartes Systems Group (NASDAQ:DSGX) opened at $31.05 on Wednesday. The stock has a market capitalization of $2,370.00, a P/E ratio of 91.62 and a beta of 0.54. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The Descartes Systems Group has a 1 year low of $20.35 and a 1 year high of $31.23.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $57.29 million for the quarter, compared to the consensus estimate of $55.74 million. The Descartes Systems Group had a net margin of 12.06% and a return on equity of 5.97%. analysts predict that The Descartes Systems Group will post 0.4 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in The Descartes Systems Group by 19.4% in the second quarter. Russell Investments Group Ltd. now owns 80,639 shares of the technology company’s stock worth $1,959,000 after purchasing an additional 13,080 shares in the last quarter. Bank of Nova Scotia boosted its stake in The Descartes Systems Group by 3.9% in the second quarter. Bank of Nova Scotia now owns 285,287 shares of the technology company’s stock worth $6,941,000 after purchasing an additional 10,803 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in The Descartes Systems Group by 19.3% in the second quarter. Ameriprise Financial Inc. now owns 214,500 shares of the technology company’s stock worth $5,223,000 after purchasing an additional 34,725 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in The Descartes Systems Group by 35.4% in the second quarter. State of Tennessee Treasury Department now owns 136,328 shares of the technology company’s stock worth $3,312,000 after purchasing an additional 35,628 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in The Descartes Systems Group by 65.7% in the second quarter. Goldman Sachs Group Inc. now owns 53,328 shares of the technology company’s stock worth $1,298,000 after purchasing an additional 21,139 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.watchlistnews.com/the-descartes-systems-group-inc-dsgx-raised-to-hold-at-zacks-investment-research/1725377.html.

About The 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.

Get a free copy of the Zacks research report on The Descartes Systems Group (DSGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

Receive News & Ratings for The Descartes Systems Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.