Jupiter Topco LLC Purchases New Shares in The Descartes Systems Group Inc. $DSGX

Key Points

• Jupiter Topco LLC acquired 2.62 million shares of The Descartes Systems Group in the second quarter, worth approximately $181.7 million and representing a 3.06% stake.
• Institutional ownership remains high at 77.73%, with several major investors—including Manufacturers Life, Norges Bank, Morgan Stanley and Arrowstreet Capital—initiating or expanding positions.
• Analysts maintain a generally positive outlook, giving the stock a consensus “Moderate Buy” rating and an average price target of $102.54. Descartes also exceeded quarterly EPS expectations, reporting $0.55 versus the $0.52 consensus estimate, while revenue increased 14.7% year over year.

Jupiter Topco LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,624,926 shares of the technology company's stock, valued at approximately $181,742,000. Jupiter Topco LLC owned about 3.06% of The Descartes Systems Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth about $141,403,000. Norges Bank bought a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $100,405,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $58,755,000. Morgan Stanley grew its position in The Descartes Systems Group by 97.2% in the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock worth $138,888,000 after acquiring an additional 780,857 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in The Descartes Systems Group by 74.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock worth $152,898,000 after acquiring an additional 743,104 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DSGX. Loop Capital reaffirmed a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. 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 report on Monday, July 20th. Canadian Imperial Bank of Commerce raised their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note 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, Raymond James Financial cut their target price 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. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.54.

The Descartes Systems Group Trading Down 0.0%

NASDAQ DSGX opened at $77.49 on Thursday. The stock has a market cap of $6.64 billion, a PE ratio of 38.74 and a beta of 0.62. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00. The company's 50-day moving average price is $73.46 and its 200-day moving average price is $71.60.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share 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 analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 2.35 earnings per share 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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