Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, 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. “

A number of other brokerages have also weighed in on DSGX. ValuEngine lowered shares of Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Royal Bank of Canada lifted their price target on shares of Descartes Systems Group from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Raymond James set a $42.00 price target on shares of Descartes Systems Group and gave the company a “market perform” rating in a research report on Thursday, May 28th. Scotiabank lifted their price target on shares of Descartes Systems Group from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Tuesday, May 26th. Finally, TheStreet raised shares of Descartes Systems Group from a “c+” rating to a “b-” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $46.42.

Shares of DSGX traded up $0.10 during trading hours on Tuesday, reaching $50.79. 138,300 shares of the company traded hands, compared to its average volume of 168,514. The company’s fifty day moving average price is $48.06 and its two-hundred day moving average price is $42.92. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 108.07 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. Descartes Systems Group has a 12 month low of $24.35 and a 12 month high of $53.30.

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

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in Descartes Systems Group by 23.0% in the first quarter. Morgan Stanley now owns 709,037 shares of the technology company’s stock worth $24,383,000 after buying an additional 132,488 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Descartes Systems Group by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 1,264,134 shares of the technology company’s stock valued at $43,139,000 after purchasing an additional 33,963 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Descartes Systems Group during the first quarter valued at approximately $266,000. Engineers Gate Manager LP purchased a new position in shares of Descartes Systems Group during the first quarter valued at approximately $229,000. Finally, Two Sigma Investments LP raised its holdings in shares of Descartes Systems Group by 3.6% during the first quarter. Two Sigma Investments LP now owns 26,576 shares of the technology company’s stock valued at $914,000 after purchasing an additional 925 shares during the last quarter. 78.86% of the stock is owned by institutional investors and hedge funds.

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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