Descartes Systems Group Inc (DSGX) Receives Consensus Rating of “Hold” from Brokerages

Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $33.21.

DSGX has been the subject of several analyst reports. BidaskClub downgraded shares of Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Raymond James Financial cut shares of Descartes Systems Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 30th. Zacks Investment Research upgraded shares of Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 22nd. Royal Bank of Canada raised their price objective on shares of Descartes Systems Group from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Barclays raised their price objective on shares of Descartes Systems Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 30th.

Descartes Systems Group (NASDAQ DSGX) traded down $0.10 on Friday, hitting $29.00. 87,850 shares of the company were exchanged, compared to its average volume of 57,032. 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. The firm has a market cap of $2,234.11, a price-to-earnings ratio of 85.30 and a beta of 0.51.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The firm had revenue of $62.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 20.4% on a year-over-year basis. sell-side analysts predict that Descartes Systems Group will post 0.37 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of DSGX. Ameriprise Financial Inc. grew its holdings in Descartes Systems Group by 19.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 214,500 shares of the technology company’s stock worth $5,223,000 after acquiring an additional 34,725 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Descartes Systems Group by 3.9% during the 2nd quarter. Bank of Nova Scotia now owns 285,287 shares of the technology company’s stock valued at $6,941,000 after purchasing an additional 10,803 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Descartes Systems Group by 65.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 53,328 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 21,139 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of Descartes Systems Group by 4.1% during the 3rd quarter. Mawer Investment Management Ltd. now owns 3,985,735 shares of the technology company’s stock valued at $108,765,000 after purchasing an additional 157,769 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Descartes Systems Group by 20.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,240 shares of the technology company’s stock valued at $1,978,000 after purchasing an additional 14,030 shares in the last quarter. Institutional investors 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.

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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