The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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. “

A number of other research analysts have also issued reports on the stock. Scotiabank boosted their target price on shares of The Descartes Systems Group from $28.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. TD Securities boosted their price target on shares of The Descartes Systems Group from $29.00 to $40.50 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Raymond James Financial, Inc. boosted their price target on shares of The Descartes Systems Group from $27.50 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, September 7th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of The Descartes Systems Group in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.06.

Shares of The Descartes Systems Group (DSGX) traded down 0.69% during midday trading on Tuesday, hitting $28.65. 21,843 shares of the stock traded hands. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 84.26 and a beta of 0.55. The Descartes Systems Group has a one year low of $20.20 and a one year high of $29.25. The firm has a 50-day moving average price of $27.96 and a 200 day moving average price of $25.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 6th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $57.29 million for the quarter, compared to analyst estimates of $55.74 million. The Descartes Systems Group had a net margin of 12.06% and a return on equity of 5.97%. Analysts anticipate that The Descartes Systems Group will post $0.40 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its position in The Descartes Systems Group by 6.8% during the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after purchasing an additional 495 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in The Descartes Systems Group by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 17,589 shares of the technology company’s stock worth $403,000 after acquiring an additional 654 shares in the last quarter. Suntrust Banks Inc. grew its position in The Descartes Systems Group by 4.9% in the second quarter. Suntrust Banks Inc. now owns 14,338 shares of the technology company’s stock worth $348,000 after acquiring an additional 672 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in The Descartes Systems Group by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock worth $123,000 after acquiring an additional 860 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in The Descartes Systems Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 67,210 shares of the technology company’s stock worth $1,539,000 after acquiring an additional 955 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

About The 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 The Descartes Systems Group (NASDAQ:DSGX)

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