Descartes Systems Group (NASDAQ:DSGX) Lowered to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

Several other brokerages also recently commented on DSGX. Canaccord Genuity upped their price target on shares of Descartes Systems Group from $45.00 to $50.00 and gave the company a buy rating in a research report on Thursday, May 28th. BMO Capital Markets increased their target price on Descartes Systems Group from $43.00 to $47.00 and gave the company a market perform rating in a report on Thursday, May 28th. Royal Bank of Canada raised their target price on Descartes Systems Group from $50.00 to $57.00 and gave the stock an outperform rating in a research report on Thursday, June 4th. Barclays reissued a hold rating and set a $36.00 price target on shares of Descartes Systems Group in a research report on Tuesday, March 17th. Finally, TheStreet upgraded Descartes Systems Group from a c+ rating to a b- rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $46.42.

Shares of Descartes Systems Group stock opened at $50.79 on Tuesday. Descartes Systems Group has a 12-month low of $24.35 and a 12-month high of $53.30. The firm has a market capitalization of $4.27 billion, a PE ratio of 108.06 and a beta of 1.03. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average is $48.06 and its 200-day moving average is $42.92.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Descartes Systems Group had a return on equity of 5.02% and a net margin of 12.27%. The firm had revenue of $83.70 million for the quarter, compared to the consensus estimate of $85.19 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts expect that Descartes Systems Group will post 0.55 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Descartes Systems Group by 12.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,478,135 shares of the technology company’s stock valued at $85,301,000 after buying an additional 277,610 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Descartes Systems Group by 8.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,409,028 shares of the technology company’s stock valued at $82,847,000 after acquiring an additional 197,445 shares during the last quarter. Janus Henderson Group PLC grew its position in Descartes Systems Group by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 2,406,341 shares of the technology company’s stock worth $102,907,000 after acquiring an additional 49,354 shares in the last quarter. Norges Bank acquired a new position in shares of Descartes Systems Group during the 4th quarter worth $67,327,000. Finally, Echo Street Capital Management LLC raised its holdings in shares of Descartes Systems Group by 12.5% during the 1st quarter. Echo Street Capital Management LLC now owns 1,561,857 shares of the technology company’s stock valued at $53,746,000 after purchasing an additional 173,171 shares in the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.

About Descartes Systems Group

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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