Walleye Capital LLC Acquires 117,146 Shares of The Descartes Systems Group Inc. $DSGX

Walleye Capital LLC raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1,011.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,723 shares of the technology company’s stock after acquiring an additional 117,146 shares during the quarter. Walleye Capital LLC’s holdings in The Descartes Systems Group were worth $9,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter worth $27,000. Danske Bank A S bought a new stake in The Descartes Systems Group during the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC bought a new stake in The Descartes Systems Group during the third quarter valued at about $40,000. Caitong International Asset Management Co. Ltd increased its position in The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after buying an additional 419 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 4.1%

DSGX stock opened at $68.10 on Thursday. The stock has a market cap of $5.84 billion, a PE ratio of 34.05 and a beta of 0.64. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00. The company has a 50-day moving average price of $71.71 and a 200 day moving average price of $72.55.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of analyst reports. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday. Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Raymond James Financial cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold 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 $102.54.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.