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

ValuEngine cut shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other research analysts have also recently commented on DSGX. Raymond James set a $36.00 target price on shares of Descartes Systems Group and gave the company a market perform rating in a research report on Thursday, September 5th. CIBC reiterated a hold rating and set a $45.00 price target on shares of Descartes Systems Group in a research report on Tuesday, October 29th. Barclays set a $47.00 price target on shares of Descartes Systems Group and gave the company a buy rating in a research report on Friday, November 1st. Wolfe Research began coverage on shares of Descartes Systems Group in a research note on Thursday, August 22nd. They issued an outperform rating and a $43.00 price target on the stock. Finally, BidaskClub upgraded shares of Descartes Systems Group from a hold rating to a buy rating in a report on Saturday, November 23rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $44.73.

NASDAQ:DSGX traded up $0.51 on Tuesday, reaching $41.38. The company’s stock had a trading volume of 139,537 shares, compared to its average volume of 111,248. Descartes Systems Group has a 12-month low of $25.19 and a 12-month high of $43.76. The stock has a 50 day moving average price of $40.61 and a 200 day moving average price of $38.50. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 103.45 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $82.62 million. Descartes Systems Group had a return on equity of 5.28% and a net margin of 10.58%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Equities research analysts expect that Descartes Systems Group will post 0.41 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Descartes Systems Group by 14.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,402,856 shares of the technology company’s stock valued at $495,393,000 after acquiring an additional 1,697,992 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Descartes Systems Group by 63.4% in the second quarter. Primecap Management Co. CA now owns 7,211,500 shares of the technology company’s stock valued at $266,465,000 after purchasing an additional 2,798,500 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of Descartes Systems Group by 2.6% in the second quarter. Conestoga Capital Advisors LLC now owns 3,539,198 shares of the technology company’s stock valued at $130,773,000 after purchasing an additional 89,725 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Descartes Systems Group by 6.1% in the second quarter. Janus Henderson Group PLC now owns 2,467,191 shares of the technology company’s stock valued at $91,334,000 after purchasing an additional 140,860 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Descartes Systems Group by 15.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,185,641 shares of the technology company’s stock worth $88,103,000 after buying an additional 284,803 shares during the period. 79.34% of the stock is currently owned by hedge funds and other institutional investors.

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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