Deutsche Bank AG Invests $16.76 Million in The Descartes Systems Group Inc. $DSGX

Key Points

• Deutsche Bank initiated a $16.76 million position in The Descartes Systems Group during the second quarter, buying 242,096 shares and owning approximately 0.28% of the company.
• Institutional investors hold 77.73% of DSGX shares, with other notable activity including new positions from Norges Bank and Peregrine Capital and increased stakes from Bank of America and Clearbridge Investments.
• Descartes reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue rose 14.7% year over year to $166.96 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $102.54 versus a recent share price of $78.21.

Deutsche Bank AG purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 242,096 shares of the technology company's stock, valued at approximately $16,763,000. Deutsche Bank AG owned about 0.28% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DSGX. Clearbridge Investments LLC boosted its position in The Descartes Systems Group by 25.2% during the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company's stock worth $35,402,000 after buying an additional 81,354 shares during the period. Norges Bank acquired a new position in The Descartes Systems Group in the 4th quarter valued at approximately $100,405,000. Bank of America Corp DE raised its stake in shares of The Descartes Systems Group by 62.0% during the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company's stock valued at $52,488,000 after acquiring an additional 280,713 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of The Descartes Systems Group during the first quarter valued at $8,671,000. Finally, Vanguard Group Inc. lifted its holdings in shares of The Descartes Systems Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock worth $316,050,000 after purchasing an additional 69,260 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $78.21 on Friday. The firm's fifty day moving average is $73.07 and its 200-day moving average is $71.38. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The firm has a market cap of $6.70 billion, a P/E ratio of 39.10 and a beta of 0.62.

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 Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. During the same period in the prior year, the company posted $0.41 earnings per share. The Descartes Systems Group's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of 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 reaffirmed a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research 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, July 21st. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average 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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