Descartes Systems Group (DSGX) Downgraded by Zacks Investment Research to Sell

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

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. “

DSGX has been the topic of a number of other research reports. Barclays lifted their price target on Descartes Systems Group from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. BidaskClub upgraded Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Royal Bank of Canada lifted their price target on Descartes Systems Group from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Raymond James Financial downgraded Descartes Systems Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 30th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $31.00 price target on shares of Descartes Systems Group in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Descartes Systems Group currently has an average rating of “Hold” and a consensus price target of $33.39.

Shares of Descartes Systems Group (DSGX) traded down $0.15 during trading on Monday, hitting $28.85. The stock had a trading volume of 59,161 shares, compared to its average volume of 57,821. The firm has a market capitalization of $2,230.00, a price-to-earnings ratio of 84.85 and a beta of 0.51. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.11. Descartes Systems Group has a 12 month low of $21.00 and a 12 month high of $31.23.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, November 29th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $62.00 million for the quarter, compared to analyst estimates of $60.01 million. Descartes Systems Group had a return on equity of 5.83% and a net margin of 11.61%. The firm’s revenue was up 20.4% compared to the same quarter last year. equities analysts anticipate that Descartes Systems Group will post 0.37 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of DSGX. Bank of New York Mellon Corp grew its holdings in shares of Descartes Systems Group by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 81,240 shares of the technology company’s stock valued at $1,978,000 after buying an additional 14,030 shares in the last quarter. Legal & General Group Plc grew its stake in 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 purchasing an additional 495 shares in the last quarter. Swiss National Bank grew its stake in Descartes Systems Group by 2.6% in the second quarter. Swiss National Bank now owns 128,100 shares of the technology company’s stock valued at $3,117,000 after purchasing an additional 3,300 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Descartes Systems Group by 292.8% in the second quarter. JPMorgan Chase & Co. now owns 157,544 shares of the technology company’s stock valued at $3,836,000 after purchasing an additional 117,435 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Descartes Systems Group by 19.3% in the second quarter. Ameriprise Financial Inc. now owns 214,500 shares of the technology company’s stock valued at $5,223,000 after purchasing an additional 34,725 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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About 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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