The Descartes Systems Group Inc. (DSGX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research report sent to investors on Thursday.

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 have also issued reports on the company. Canaccord Genuity boosted their price target on The Descartes Systems Group from $26.00 to $38.00 and gave the company a buy rating in a research note on Thursday, June 1st. Raymond James Financial, Inc. boosted their price target on The Descartes Systems Group from $24.50 to $37.00 and gave the company an outperform rating in a research note on Thursday, June 1st. Scotiabank boosted their price target on The Descartes Systems Group from $24.00 to $38.00 and gave the company an outperform rating in a research note on Thursday, June 1st. Morgan Stanley reissued an equal weight rating and issued a $27.00 price target (up from $25.00) on shares of The Descartes Systems Group in a research note on Thursday, June 1st. Finally, TD Securities reissued a buy rating and issued a $29.00 price target (up from $25.00) on shares of The Descartes Systems Group in a research note on Wednesday, May 31st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $32.06.

The Descartes Systems Group (NASDAQ:DSGX) opened at 28.30 on Thursday. The Descartes Systems Group has a 52 week low of $20.20 and a 52 week high of $29.25. The stock’s 50 day moving average is $26.71 and its 200 day moving average is $24.30. The company has a market capitalization of $2.15 billion, a PE ratio of 88.44 and a beta of 0.56.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The Descartes Systems Group had a net margin of 12.06% and a return on equity of 5.97%. The business had revenue of $57.29 million during the quarter, compared to analyst estimates of $55.74 million. Analysts predict that The Descartes Systems Group will post $0.40 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. Mawer Investment Management Ltd. increased its holdings in shares of The Descartes Systems Group by 24.8% during the first quarter. Mawer Investment Management Ltd. now owns 3,712,275 shares of the technology company’s stock valued at $150,755,000 after acquiring an additional 737,395 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of The Descartes Systems Group by 87.3% during the second quarter. Fiera Capital Corp now owns 1,573,855 shares of the technology company’s stock valued at $38,223,000 after acquiring an additional 733,678 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of The Descartes Systems Group by 32.6% during the second quarter. Conestoga Capital Advisors LLC now owns 2,118,060 shares of the technology company’s stock valued at $51,575,000 after acquiring an additional 521,220 shares in the last quarter. FMR LLC increased its holdings in shares of The Descartes Systems Group by 391.7% during the first quarter. FMR LLC now owns 637,710 shares of the technology company’s stock valued at $14,611,000 after acquiring an additional 508,020 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of The Descartes Systems Group by 122.7% during the first quarter. Morgan Stanley now owns 633,028 shares of the technology company’s stock valued at $14,496,000 after acquiring an additional 348,754 shares in the last quarter. Hedge funds and other institutional investors own 79.10% of the company’s stock.

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.

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