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

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

Several other equities research analysts also recently weighed in on the company. Barclays decreased their price target on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Scotiabank lowered their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Finally, Morgan Stanley cut their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $108.64.

The Descartes Systems Group Stock Up 0.1%

DSGX opened at $71.16 on Monday. The Descartes Systems Group has a 52 week low of $62.56 and a 52 week high of $117.35. The business has a 50 day moving average price of $73.45 and a two-hundred day moving average price of $85.50. The company has a market cap of $6.12 billion, a PE ratio of 38.26 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The company 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 company’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. As a group, sell-side analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DSGX. Rockefeller Capital Management L.P. increased its holdings in shares of The Descartes Systems Group by 269.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 779 shares of the technology company’s stock valued at $68,000 after purchasing an additional 568 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in The Descartes Systems Group during the fourth quarter worth about $257,000. MidFirst Bank purchased a new stake in The Descartes Systems Group during the fourth quarter worth about $309,000. Invesco Ltd. grew its position in The Descartes Systems Group by 8.5% during the fourth quarter. Invesco Ltd. now owns 30,063 shares of the technology company’s stock worth $2,635,000 after buying an additional 2,353 shares during the period. Finally, Strive Financial Group LLC purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $1,372,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

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.