The Descartes Systems Group Inc. (NASDAQ:DSGX) Holdings Increased by Park Place Capital Corp

Park Place Capital Corp lifted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 48.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671 shares of the technology company’s stock after purchasing an additional 219 shares during the period. Park Place Capital Corp’s holdings in The Descartes Systems Group were worth $61,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group in the fourth quarter worth approximately $27,000. Accent Capital Management LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter worth $32,000. Federated Hermes Inc. acquired a new position in The Descartes Systems Group during the 3rd quarter valued at $64,000. Signaturefd LLC raised its stake in The Descartes Systems Group by 45.6% during the 4th quarter. Signaturefd LLC now owns 1,015 shares of the technology company’s stock valued at $85,000 after purchasing an additional 318 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in The Descartes Systems Group in the 4th quarter valued at $209,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Thursday, May 30th. Scotiabank increased their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. Raymond James increased their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. Barclays increased their target price on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. Finally, Royal Bank of Canada increased their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $96.86 on Tuesday. The business has a fifty day simple moving average of $95.47 and a two-hundred day simple moving average of $90.45. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $100.69. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 69.19 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The business had revenue of $151.30 million for the quarter, compared to analyst estimates of $151.80 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.59 earnings per share for the current fiscal year.

The Descartes Systems Group Company Profile

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.