Nykredit A S Takes Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Nykredit A S acquired a new 33,500-share stake in The Descartes Systems Group during the second quarter, valued at approximately $2.32 million. Institutional investors collectively own 77.73% of the company.
• DSGX opened at $78.94, with a market capitalization of $6.75 billion and a price-to-earnings ratio of 39.47. The stock’s 52-week range is $62.56 to $109.00.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $102.46, implying potential upside from the current share price.

Nykredit A S purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,500 shares of the technology company's stock, valued at approximately $2,319,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AXA S.A. lifted its position in 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 valued at $681,000 after purchasing an additional 130 shares during the period. Reynders McVeigh Capital Management LLC boosted its holdings in The Descartes Systems Group by 0.3% in the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company's stock valued at $5,207,000 after purchasing an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company's stock worth $368,000 after purchasing an additional 143 shares during the period. Federated Hermes Inc. grew its position in The Descartes Systems Group by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company's stock worth $96,000 after purchasing an additional 177 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

DSGX opened at $78.94 on Tuesday. 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 fifty day moving average of $75.41 and a two-hundred day moving average of $72.37. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 39.47 and a beta of 0.62.

Analyst Ratings Changes

Several brokerages have recently issued reports on DSGX. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an "outperform" rating in a report on Monday, July 20th. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a report on Friday. Canadian Imperial Bank of Commerce lifted their price target 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. Loop Capital reissued a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Finally, Raymond James Financial lowered 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 report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and a consensus target price of $102.46.

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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