ValuEngine Downgrades Descartes Systems Group (NASDAQ:DSGX) to Hold

ValuEngine downgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research report released on Wednesday, March 27th, ValuEngine reports.

A number of other analysts have also weighed in on DSGX. TheStreet raised Descartes Systems Group from a c+ rating to a b- rating in a research report on Friday, January 18th. Raymond James reaffirmed a market perform rating and set a $31.00 price objective on shares of Descartes Systems Group in a research report on Wednesday, January 30th. BidaskClub raised Descartes Systems Group from a strong sell rating to a sell rating in a research report on Tuesday, December 4th. BMO Capital Markets set a $32.00 target price on Descartes Systems Group and gave the company a market perform rating in a report on Thursday, November 29th. Finally, Echelon Wealth Partners reissued a buy rating on shares of Descartes Systems Group in a report on Monday, January 28th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $37.63.

DSGX traded down $0.06 during trading hours on Wednesday, reaching $37.71. The company’s stock had a trading volume of 62,795 shares, compared to its average volume of 145,843. Descartes Systems Group has a fifty-two week low of $25.19 and a fifty-two week high of $39.99. The stock has a market capitalization of $2.91 billion, a PE ratio of 94.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.03 and a current ratio of 1.03.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Descartes Systems Group had a return on equity of 6.01% and a net margin of 11.37%. The firm had revenue of $71.00 million for the quarter, compared to analyst estimates of $71.15 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Descartes Systems Group will post 0.58 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC World Markets Inc. lifted its position in Descartes Systems Group by 116.1% in the third quarter. CIBC World Markets Inc. now owns 63,272 shares of the technology company’s stock valued at $2,145,000 after purchasing an additional 33,995 shares during the period. Marshall Wace LLP acquired a new stake in Descartes Systems Group in the third quarter valued at about $4,238,000. Mawer Investment Management Ltd. lifted its position in Descartes Systems Group by 7.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 3,507,360 shares of the technology company’s stock valued at $93,155,000 after purchasing an additional 251,377 shares during the period. Vanguard Group Inc. lifted its position in Descartes Systems Group by 5.1% in the third quarter. Vanguard Group Inc. now owns 1,888,093 shares of the technology company’s stock valued at $64,006,000 after purchasing an additional 90,880 shares during the period. Finally, Royce & Associates LP acquired a new stake in Descartes Systems Group in the fourth quarter valued at about $4,121,000. Institutional investors own 80.77% 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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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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