Headlands Technologies LLC Acquires Shares of 33,528 The Descartes Systems Group Inc. $DSGX

Key Points

• Headlands Technologies acquired 33,528 shares of The Descartes Systems Group in the second quarter, valued at approximately $3.684 million. Other institutions also increased or initiated positions, with institutional investors owning 77.73% of the stock.
• Descartes reported quarterly EPS of $0.55, beating analyst expectations of $0.52, while revenue rose 14.7% year over year to $166.96 million. Analysts expect full-year EPS of approximately $2.34.
• The stock opened at $81.83, below its consensus analyst price target of $102.54. Analysts maintain a “Moderate Buy” consensus, with one Strong Buy, eleven Buy, and three Hold ratings.

Headlands Technologies LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,528 shares of the technology company's stock, valued at approximately $3,684,000.

Several other large investors also recently modified their holdings of DSGX. Moore Capital Management LP purchased a new position in The Descartes Systems Group during the 2nd quarter valued at about $2,596,000. Northwestern Mutual Wealth Management Co. raised its position in The Descartes Systems Group by 34.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,345 shares of the technology company's stock valued at $162,000 after purchasing an additional 605 shares during the last quarter. Wellington Management Group LLP lifted its holdings in The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company's stock worth $94,402,000 after buying an additional 1,179,345 shares during the period. Empowered Funds LLC purchased a new stake in The Descartes Systems Group in the 2nd quarter worth approximately $3,246,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $4,118,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $81.83 on Monday. The company's 50-day simple moving average is $74.02 and its 200 day simple moving average is $71.80. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The firm has a market capitalization of $7.01 billion, a P/E ratio of 40.91 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DSGX. Raymond James Financial decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Loop Capital reiterated a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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