Park Place Capital Corp Decreases Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Park Place Capital Corp reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,472 shares of the technology company’s stock after selling 87 shares during the quarter. Park Place Capital Corp’s holdings in The Descartes Systems Group were worth $167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of DSGX. Trust Co. of Vermont purchased a new position in The Descartes Systems Group in the 4th quarter worth about $54,000. GAMMA Investing LLC grew its stake in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. grew its stake in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares during the period. Avanza Fonder AB purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $118,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in The Descartes Systems Group by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price on the stock. Royal Bank of Canada boosted their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Finally, National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $120.41 on Thursday. The stock has a market cap of $10.30 billion, a PE ratio of 75.73 and a beta of 0.99. The Descartes Systems Group Inc. has a 1 year low of $84.12 and a 1 year high of $122.88. The firm has a fifty day moving average price of $115.69 and a 200-day moving average price of $106.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the previous year, the business posted $0.31 earnings per share. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.