The Descartes Systems Group (NASDAQ:DSGX) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

Several other analysts have also weighed in on the company. Morgan Stanley decreased their price objective on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Scotiabank dropped their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Finally, Canaccord Genuity Group dropped their price target on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

The Descartes Systems Group Stock Up 0.1%

NASDAQ DSGX opened at $71.16 on Monday. The stock has a market capitalization of $6.12 billion, a PE ratio of 38.26 and a beta of 0.77. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $117.35. The company has a 50 day moving average price of $73.45 and a two-hundred day moving average price of $85.50.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The business had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $8,528,000. Y Intercept Hong Kong Ltd acquired a new position in The Descartes Systems Group in the 3rd quarter valued at about $2,460,000. Grandeur Peak Global Advisors LLC lifted its holdings in The Descartes Systems Group by 41.2% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 108,250 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of The Descartes Systems Group by 15.3% in the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after acquiring an additional 127,762 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth approximately $10,031,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.