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

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. “

Other analysts have also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of The Descartes Systems Group in a report on Thursday, August 17th. Scotiabank increased their target price on The Descartes Systems Group from $28.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. BMO Capital Markets restated a “hold” rating and set a $26.00 target price on shares of The Descartes Systems Group in a report on Thursday, August 17th. Raymond James Financial, Inc. increased their target price on The Descartes Systems Group from $27.50 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. Finally, TD Securities increased their target price on The Descartes Systems Group from $29.00 to $40.50 and gave the stock a “buy” rating in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.06.

Shares of The Descartes Systems Group (NASDAQ DSGX) traded down 0.69% during trading on Tuesday, hitting $28.65. 21,843 shares of the stock traded hands. The firm’s 50-day moving average price is $27.96 and its 200-day moving average price is $25.35. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 84.26 and a beta of 0.55. The Descartes Systems Group has a 52 week low of $20.20 and a 52 week high of $29.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 6th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $57.29 million for the quarter, compared to the consensus estimate of $55.74 million. The Descartes Systems Group had a return on equity of 5.97% and a net margin of 12.06%. On average, equities research analysts anticipate that The Descartes Systems Group will post $0.40 earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in The Descartes Systems Group by 89.6% in the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Descartes Systems Group by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after acquiring an additional 860 shares during the last quarter. Legal & General Group Plc boosted its holdings in The Descartes Systems Group by 6.8% in the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after acquiring an additional 495 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in The Descartes Systems Group by 34.6% in the first quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock valued at $229,000 after acquiring an additional 2,573 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in The Descartes Systems Group by 86.2% in the first quarter. Tower Research Capital LLC TRC now owns 12,389 shares of the technology company’s stock valued at $283,000 after acquiring an additional 5,737 shares during the last quarter. Institutional investors and hedge funds own 78.31% 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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Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

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