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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

DSGX has been the topic of several other reports. 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 on the stock in a research note on Thursday, March 12th. Morgan Stanley reduced their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a report on Thursday, December 4th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.64.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $71.16 on Monday. The business has a 50-day moving average of $73.45 and a two-hundred day moving average of $85.50. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 38.26 and a beta of 0.77. The Descartes Systems Group has a 1 year low of $62.56 and a 1 year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 business had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, equities research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Large investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of The Descartes Systems Group in the 3rd quarter valued at $27,000. Mather Group LLC. acquired a new stake in The Descartes Systems Group during the 3rd quarter worth $28,000. Danske Bank A S purchased a new position in The Descartes Systems Group during the 3rd quarter worth $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group during the 3rd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after purchasing an additional 401 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

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.