Moore Capital Management LP Purchases Shares of 37,500 The Descartes Systems Group Inc. $DSGX

Moore Capital Management LP purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,500 shares of the technology company's stock, valued at approximately $2,596,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DSGX. Jupiter Topco LLC bought a new position in The Descartes Systems Group during the 2nd quarter worth $181,742,000. The Manufacturers Life Insurance Company acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $141,403,000. Wellington Management Group LLP grew its holdings in shares of The Descartes Systems Group by 640.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company's stock worth $94,402,000 after purchasing an additional 1,179,345 shares in the last quarter. Norges Bank bought a new position in shares of The Descartes Systems Group in the fourth quarter worth $100,405,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Descartes Systems Group during the second quarter worth about $58,755,000. Institutional investors own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DSGX. Canadian Imperial Bank of Commerce boosted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Thursday, June 4th. Raymond James Financial reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Loop Capital reissued a "buy" rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Weiss Ratings upgraded The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Finally, National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.54.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $80.64 on Tuesday. The business has a 50-day moving average of $74.30 and a 200-day moving average of $71.88. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 40.32 and a beta of 0.62. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) 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 the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.34 EPS for the current year.

The Descartes Systems Group Profile

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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