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

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

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 equities analysts also recently commented on DSGX. TD Securities upped their target price on The Descartes Systems Group from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, September 9th. Barclays increased their price target on The Descartes Systems Group from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 9th. They noted that the move was a valuation call. Canaccord Genuity increased their price target on The Descartes Systems Group from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Raymond James increased their price target on The Descartes Systems Group from $67.00 to $80.00 and gave the stock a “market perform” rating in a research report on Thursday, September 9th. Finally, William Blair reissued a “buy” rating on shares of The Descartes Systems Group in a research report on Thursday, September 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $87.61.

NASDAQ:DSGX opened at $82.42 on Monday. The stock’s 50 day moving average price is $74.16 and its two-hundred day moving average price is $66.68. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 99.30 and a beta of 1.10. The Descartes Systems Group has a 12-month low of $50.57 and a 12-month high of $86.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Tuesday, September 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The Descartes Systems Group had a net margin of 18.76% and a return on equity of 7.94%. The business had revenue of $104.60 million during the quarter, compared to the consensus estimate of $100.83 million. During the same quarter in the prior year, the company earned $0.12 EPS. The Descartes Systems Group’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts forecast that The Descartes Systems Group will post 1.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 5,239,062 shares of the technology company’s stock valued at $368,935,000 after acquiring an additional 215,779 shares during the last quarter. Jarislowsky Fraser Ltd raised its position in The Descartes Systems Group by 1.1% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 4,772,701 shares of the technology company’s stock worth $330,423,000 after purchasing an additional 54,260 shares during the last quarter. Vanguard Group Inc. raised its position in The Descartes Systems Group by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,560,182 shares of the technology company’s stock worth $177,061,000 after purchasing an additional 27,801 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in The Descartes Systems Group by 4.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,434,872 shares of the technology company’s stock worth $168,396,000 after purchasing an additional 102,400 shares during the last quarter. Finally, Echo Street Capital Management LLC raised its position in The Descartes Systems Group by 4.6% during the 2nd quarter. Echo Street Capital Management LLC now owns 2,398,522 shares of the technology company’s stock worth $165,854,000 after purchasing an additional 104,573 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group, Inc engages in the provision of logistics technology solutions. It offers B2B connectivity and messaging, broker and forwarder enterprise systems, customs and regulatory compliance, ecommerce shipping and fulfillment, global trade intelligence, routing, mobile and telematics, and transportation management.

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