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

Park Place Capital Corp decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,472 shares of the technology company’s stock after selling 87 shares during the period. Park Place Capital Corp’s holdings in The Descartes Systems Group were worth $167,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont bought a new stake in The Descartes Systems Group in the 4th quarter worth $54,000. GAMMA Investing LLC boosted its holdings in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after purchasing 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 purchasing an additional 587 shares during the last quarter. Avanza Fonder AB purchased a new position in The Descartes Systems Group during the 4th quarter valued at about $118,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in The Descartes Systems Group by 28.6% during the 2nd 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 last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Securities boosted their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Trading Up 1.6 %

Shares of NASDAQ:DSGX opened at $120.41 on Thursday. The Descartes Systems Group Inc. has a 12-month low of $84.12 and a 12-month high of $122.88. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 75.73 and a beta of 0.99. The stock has a fifty day simple moving average of $115.69 and a two-hundred day simple moving average of $106.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 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.