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 Monday, 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 issued reports on DSGX. BMO Capital Markets boosted their target price on shares of Descartes Systems Group from $43.00 to $47.00 and gave the company a "market perform" rating in a research note on Thursday, May 28th. ValuEngine downgraded 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 boosted their target price on shares of Descartes Systems Group from $50.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Scotiabank boosted their target price on shares of Descartes Systems Group from $42.00 to $45.00 and gave the company a "sector outperform" rating in a research note on Tuesday, May 26th. Finally, TheStreet raised shares of Descartes Systems Group from a "c+" rating to a "b-" rating in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. The company has an average rating of "Buy" and an average target price of $47.00.
Shares of NASDAQ DSGX traded up $1.70 during trading on Monday, hitting $55.83. The company had a trading volume of 211,418 shares, compared to its average volume of 167,894. The company has a market cap of $4.56 billion, a P/E ratio of 118.79 and a beta of 1.06. Descartes Systems Group has a 52 week low of $24.35 and a 52 week high of $56.03. The business's 50-day moving average is $49.20 and its 200 day moving average is $43.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26.
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 (EPS) for the quarter, meeting the consensus estimate of $0.13. Descartes Systems Group had a net margin of 12.27% and a return on equity of 5.02%. The company had revenue of $83.70 million for the quarter, compared to the consensus estimate of $85.19 million. During the same period in the previous year, the business earned $0.09 EPS. The company's revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Descartes Systems Group will post 0.55 EPS for the current year.
Large investors have recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of Descartes Systems Group by 7,481.6% in the fourth quarter. UBS Group AG now owns 2,881 shares of the technology company's stock valued at $123,000 after buying an additional 2,843 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Descartes Systems Group during the fourth quarter worth approximately $242,000. Advisor Group Inc. increased its holdings in shares of Descartes Systems Group by 5.6% during the fourth quarter. Advisor Group Inc. now owns 6,226 shares of the technology company's stock worth $266,000 after buying an additional 328 shares in the last quarter. Prudential PLC acquired a new stake in shares of Descartes Systems Group during the first quarter worth approximately $226,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Descartes Systems Group during the first quarter worth approximately $229,000. Hedge funds and other institutional investors 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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