Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, 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. “

Other equities analysts have also recently issued reports about the company. Raymond James lifted their price target on Descartes Systems Group from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, May 30th. Stephens initiated coverage on Descartes Systems Group in a research note on Monday, July 1st. They issued an “equal weight” rating and a $40.00 price target on the stock. BidaskClub cut Descartes Systems Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 15th. Royal Bank of Canada lifted their price target on Descartes Systems Group from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $43.00 price target on shares of Descartes Systems Group in a research note on Thursday, May 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.86.

Descartes Systems Group stock traded up $0.92 during trading hours on Wednesday, reaching $35.53. The company had a trading volume of 127,700 shares, compared to its average volume of 125,516. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day moving average price of $36.16 and a 200 day moving average price of $36.82. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 88.83 and a beta of 0.67. Descartes Systems Group has a 12-month low of $25.19 and a 12-month high of $41.60.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). The company had revenue of $78.00 million during the quarter, compared to analysts’ expectations of $78.60 million. Descartes Systems Group had a return on equity of 5.96% and a net margin of 11.05%. Descartes Systems Group’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Descartes Systems Group will post 0.38 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Advisor Group Inc. grew its position in shares of Descartes Systems Group by 8.3% in the 2nd quarter. Advisor Group Inc. now owns 5,766 shares of the technology company’s stock worth $213,000 after buying an additional 442 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Descartes Systems Group by 12.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,021 shares of the technology company’s stock worth $219,000 after buying an additional 666 shares during the last quarter. Centaurus Financial Inc. grew its position in shares of Descartes Systems Group by 21.6% in the 1st quarter. Centaurus Financial Inc. now owns 4,249 shares of the technology company’s stock worth $117,000 after buying an additional 754 shares during the last quarter. DF Dent & Co. Inc. grew its position in shares of Descartes Systems Group by 1.2% in the 2nd quarter. DF Dent & Co. Inc. now owns 66,893 shares of the technology company’s stock worth $2,472,000 after buying an additional 785 shares during the last quarter. Finally, CLARET ASSET MANAGEMENT Corp grew its position in shares of Descartes Systems Group by 8.5% in the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 10,885 shares of the technology company’s stock worth $396,000 after buying an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.

Descartes Systems Group Company Profile

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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