Park Place Capital Corp Acquires 219 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Park Place Capital Corp raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 48.5% in the first 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TD Asset Management Inc raised its position in shares of The Descartes Systems Group by 10.5% in the 4th quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock worth $65,201,000 after acquiring an additional 73,410 shares in the last quarter. Quadrature Capital Ltd increased its position in The Descartes Systems Group by 13.6% during the 4th quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after buying an additional 18,700 shares in the last quarter. Zeno Equity Partners LLP bought a new position in The Descartes Systems Group during the 4th quarter valued at approximately $11,108,000. Mackenzie Financial Corp increased its position in The Descartes Systems Group by 8.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after buying an additional 154,110 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in The Descartes Systems Group by 14.8% during the 4th quarter. Russell Investments Group Ltd. now owns 253,893 shares of the technology company’s stock valued at $21,420,000 after buying an additional 32,794 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on DSGX shares. BMO Capital Markets increased their target price on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Thursday, May 30th. CIBC increased their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Redburn Atlantic started coverage on The Descartes Systems Group in a research note on Tuesday, May 14th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, Stephens increased their target price on The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.00.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $96.86 on Tuesday. The company has a market capitalization of $8.27 billion, a PE ratio of 69.19 and a beta of 0.98. The business’s fifty day moving average is $95.47 and its 200 day moving average is $90.45. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $100.69.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The Descartes Systems Group’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.59 EPS for the current year.

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.