Hudson Bay Capital Management LP Has $471,000 Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Hudson Bay Capital Management LP cut its stake in The Descartes Systems Group by 83.4%, selling 25,035 shares and leaving 5,000 shares valued at roughly $471,000 at quarter end.
• Descartes beat quarterly estimates, reporting $0.52 EPS vs. $0.50 expected and revenue of $192.37 million, up 15.1% year‑over‑year and above the $188.09 million consensus.
• The stock trades around $73.31 with a market cap of $6.31 billion and a P/E of 39.4; analysts have an average rating of “Moderate Buy” with a consensus price target of $108.64, though several firms recently lowered their targets.

Hudson Bay Capital Management LP decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 83.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,000 shares of the technology company's stock after selling 25,035 shares during the quarter. Hudson Bay Capital Management LP's holdings in The Descartes Systems Group were worth $471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in The Descartes Systems Group during the 3rd quarter worth about $27,000. Mather Group LLC. acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $28,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group during the third quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of The Descartes Systems Group by 267.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company's stock worth $52,000 after acquiring an additional 401 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 1.0%

Shares of NASDAQ DSGX opened at $73.31 on Tuesday. The firm's 50-day moving average price is $72.58 and its 200-day moving average price is $84.80. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $117.35. The firm has a market capitalization of $6.31 billion, a P/E ratio of 39.41 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The company had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. During the same period last year, the business posted $0.43 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Scotiabank reduced their target price on The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 4th. Canaccord Genuity Group lowered their price target on shares of The Descartes Systems Group from $110.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, March 12th. Zacks Research downgraded shares of The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Morgan Stanley reduced their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.64.

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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