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

Hudson Bay Capital Management LP reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 83.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the technology company’s stock after selling 25,035 shares during the period. Hudson Bay Capital Management LP’s holdings in The Descartes Systems Group were worth $471,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Mackenzie Financial Corp increased its stake in The Descartes Systems Group by 2.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock valued at $400,969,000 after purchasing an additional 80,309 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 3.3% in the third quarter. Vanguard Group Inc. now owns 3,533,392 shares of the technology company’s stock valued at $332,697,000 after buying an additional 111,492 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after buying an additional 276,329 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of The Descartes Systems Group by 0.3% during the third quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock valued at $158,507,000 after buying an additional 5,317 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its position in shares of The Descartes Systems Group by 63.3% during the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock worth $137,968,000 after acquiring an additional 567,386 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DSGX shares. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research note on Thursday, December 4th. Barclays decreased their price objective on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Scotiabank dropped 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. Finally, Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.64.

The Descartes Systems Group Price Performance

DSGX opened at $73.31 on Tuesday. The company’s 50-day moving average is $72.58 and its 200 day moving average is $84.80. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week 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) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.