The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued 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. “

A number of other research analysts have also commented on DSGX. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of The Descartes Systems Group in a research report on Thursday. Royal Bank Of Canada increased their price objective on The Descartes Systems Group from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. BMO Capital Markets reiterated a “hold” rating and issued a $26.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, August 17th. ValuEngine upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Raymond James Financial, Inc. increased their price objective on The Descartes Systems Group from $27.50 to $38.00 and gave the company an “outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.06.

The Descartes Systems Group (NASDAQ:DSGX) traded up 1.06% during mid-day trading on Thursday, hitting $28.70. The stock had a trading volume of 189,928 shares. The firm has a market cap of $2.18 billion, a P/E ratio of 89.69 and a beta of 0.56. The Descartes Systems Group has a 1-year low of $20.20 and a 1-year high of $29.25. The stock has a 50 day moving average of $26.60 and a 200-day moving average of $24.27.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01. The firm had revenue of $57.29 million during the quarter, compared to the consensus estimate of $55.74 million. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. Analysts predict that The Descartes Systems Group will post $0.43 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of DSGX. US Bancorp DE lifted its stake in shares of The Descartes Systems Group by 89.6% in the 1st quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The Descartes Systems Group by 20.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after purchasing an additional 860 shares during the period. Legal & General Group Plc lifted its stake in shares of The Descartes Systems Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after purchasing an additional 495 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of The Descartes Systems Group by 34.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock valued at $229,000 after purchasing an additional 2,573 shares during the period. Finally, Shell Asset Management Co. lifted its stake in shares of The Descartes Systems Group by 0.4% in the 1st quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock valued at $241,000 after purchasing an additional 32 shares during the period. 79.10% of the stock is currently owned by institutional investors.

The Descartes Systems Group Company Profile

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

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