The Descartes Systems Group (NASDAQ:DSGX) Raised to Hold at Zacks Research

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of The Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an “equal weight” rating and a $110.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Finally, Barclays cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $99.51 on Tuesday. The company’s fifty day moving average is $102.25 and its 200 day moving average is $104.31. The Descartes Systems Group has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The stock has a market capitalization of $8.55 billion, a PE ratio of 59.95 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The firm had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter last year, the firm earned $0.40 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC grew its holdings in shares of The Descartes Systems Group by 4.1% in the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares during the last quarter. Squarepoint Ops LLC lifted its stake in The Descartes Systems Group by 29.7% in the second quarter. Squarepoint Ops LLC now owns 9,352 shares of the technology company’s stock worth $951,000 after acquiring an additional 2,144 shares during the period. Hudson Bay Capital Management LP lifted its stake in The Descartes Systems Group by 253.4% in the second quarter. Hudson Bay Capital Management LP now owns 30,035 shares of the technology company’s stock worth $3,053,000 after acquiring an additional 21,535 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in The Descartes Systems Group by 8.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 29,936 shares of the technology company’s stock worth $3,033,000 after acquiring an additional 2,266 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in The Descartes Systems Group by 73.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,189 shares of the technology company’s stock worth $223,000 after acquiring an additional 926 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.