Walleye Capital LLC Increases Holdings in The Descartes Systems Group Inc. $DSGX

Walleye Capital LLC grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1,011.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,723 shares of the technology company's stock after acquiring an additional 117,146 shares during the quarter. Walleye Capital LLC owned about 0.15% of The Descartes Systems Group worth $9,211,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DSGX. Quarry LP bought a new position in The Descartes Systems Group in the 3rd quarter worth about $27,000. Danske Bank A S purchased a new position in The Descartes Systems Group in the third quarter worth about $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group in the third quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 grew its holdings in shares of The Descartes Systems Group by 124.7% during the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock valued at $54,000 after buying an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

DSGX stock opened at $68.10 on Thursday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The company has a market cap of $5.84 billion, a P/E ratio of 34.05 and a beta of 0.64. The stock's fifty day moving average price is $71.71 and its 200-day moving average price is $72.55.

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 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Wall Street Analyst Weigh In

DSGX has been the subject of a number of recent analyst reports. Loop Capital restated a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Weiss Ratings raised The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Rothschild & Co Redburn upgraded The Descartes Systems Group from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a report on Monday. Finally, Canadian Imperial Bank of Commerce increased their price objective on 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. One investment 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $102.54.

The Descartes Systems Group Company 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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