Park Place Capital Corp Buys 212 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Park Place Capital Corp grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 31.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 883 shares of the technology company’s stock after buying an additional 212 shares during the quarter. Park Place Capital Corp’s holdings in The Descartes Systems Group were worth $86,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DSGX. Norges Bank bought a new stake in The Descartes Systems Group during the 4th quarter worth approximately $92,571,000. Westfield Capital Management Co. LP acquired a new position in shares of The Descartes Systems Group during the first quarter worth $47,481,000. Clearbridge Investments LLC bought a new stake in shares of The Descartes Systems Group in the fourth quarter worth $36,767,000. Allspring Global Investments Holdings LLC increased its holdings in The Descartes Systems Group by 497.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock valued at $36,001,000 after purchasing an additional 356,560 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 3.8 %

DSGX stock traded down $3.81 during mid-day trading on Friday, reaching $95.72. 195,767 shares of the company traded hands, compared to its average volume of 131,912. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 68.37 and a beta of 0.98. The firm’s 50 day moving average price is $97.10 and its 200 day moving average price is $93.29. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $151.30 million during 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 in the previous year, the company posted $0.34 EPS. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DSGX shares. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Raymond James lifted their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. Scotiabank upped their target price on 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. Finally, BMO Capital Markets lifted their target price on 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group 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.