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

Park Place Capital Corp lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 31.6% in the second quarter, Holdings Channel reports. The firm owned 883 shares of the technology company’s stock after purchasing an additional 212 shares during the period. Park Place Capital Corp’s holdings in The Descartes Systems Group were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $27,000. Central Pacific Bank Trust Division purchased a new stake in shares of The Descartes Systems Group in the first quarter worth about $28,000. Accent Capital Management LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after buying an additional 429 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of The Descartes Systems Group during the 1st quarter valued at about $79,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stephens increased their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Barclays upped their price objective on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Raymond James lifted their target price 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. Finally, Royal Bank of Canada increased their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded down $3.81 during trading on Friday, reaching $95.72. The stock had a trading volume of 195,767 shares, compared to its average volume of 131,912. The stock has a market cap of $8.17 billion, a PE ratio of 68.37 and a beta of 0.98. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $104.71. The firm’s 50 day moving average price is $97.10 and its two-hundred day moving average price is $93.29.

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 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 the consensus estimate of $151.80 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.7 earnings per share 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.