The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Hold at Zacks Research

Key Points

• The Descartes Systems Group's stock rating was upgraded from a "strong sell" to a "hold" by Zacks Research.
• The company reported earnings of $0.43 per share for the last quarter, which was below the consensus estimate of $0.49.
• Institutional investors hold approximately 77.73% of the company's stock, indicating strong confidence in the firm among major investors.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, September 2nd,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Barclays lowered their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. Finally, Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.60.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $0.48 during trading hours on Tuesday, reaching $106.96. 152,732 shares of the stock were exchanged, compared to its average volume of 361,756. The business's fifty day moving average is $102.57 and its two-hundred day moving average is $104.02. The Descartes Systems Group has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a market capitalization of $9.19 billion, a P/E ratio of 63.28 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million during the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, equities research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after purchasing an additional 936,718 shares during the period. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. raised its position in The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock worth $336,814,000 after acquiring an additional 46,369 shares in the last quarter. Fiera Capital Corp raised its position in The Descartes Systems Group by 8.0% in the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in The Descartes Systems Group by 10.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after acquiring an additional 181,086 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.