Headlands Technologies LLC Invests $3.68 Million in The Descartes Systems Group Inc. $DSGX

Headlands Technologies LLC bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, Holdings Channel.com reports. The fund bought 33,528 shares of the technology company’s stock, valued at approximately $3,684,000.

A number of other hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after acquiring an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after purchasing an additional 660 shares during the period. Amundi grew its holdings in The Descartes Systems Group by 74.5% during the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after buying an additional 35,132 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock worth $127,000 after buying an additional 254 shares in the last quarter. Finally, AXA S.A. boosted its position in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $81.83 on Monday. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00. The company has a market capitalization of $7.01 billion, a PE ratio of 40.91 and a beta of 0.62. The company has a 50 day moving average price of $74.02 and a 200-day moving average price of $71.80.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, analysts forecast that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Canadian Imperial Bank of Commerce lifted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating 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 note on Tuesday, July 21st. Raymond James Financial reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Loop Capital restated a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Finally, 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 research note on Monday, July 20th. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.