Peregrine Capital Management LLC Makes New Investment in The Descartes Systems Group Inc. $DSGX

Key Points

• Peregrine Capital Management disclosed a new first-quarter stake in The Descartes Systems Group, buying 121,176 shares worth about $8.67 million. The position represented roughly 0.14% of the company.
• Other institutional investors also increased their holdings, including Goldman Sachs, Amundi, and UBS AM, and overall 77.73% of DSGX shares are owned by institutional investors and hedge funds.
• Descartes reported better-than-expected earnings of $0.55 per share in its latest quarter, though revenue came in below analyst estimates. Analysts remain generally positive, with an average rating of Moderate Buy and an average price target of $103.17.

Peregrine Capital Management LLC acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,176 shares of the technology company's stock, valued at approximately $8,671,000. Peregrine Capital Management LLC owned about 0.14% of The Descartes Systems Group at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DSGX. Goldman Sachs Group Inc. boosted its holdings in The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company's stock valued at $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in The Descartes Systems Group by 1.2% during 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 last quarter. Amundi raised its position in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company's stock valued at $8,360,000 after purchasing an additional 35,132 shares in the last quarter. Federated Hermes Inc. raised its position in shares of The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company's stock valued at $127,000 after purchasing an additional 254 shares in the last quarter. Finally, AXA S.A. boosted its stake in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company's stock valued at $681,000 after buying an additional 130 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $69.24 on Wednesday. The stock has a market capitalization of $5.93 billion, a PE ratio of 34.62 and a beta of 0.64. The business's fifty day moving average price is $71.61 and its 200 day moving average price is $74.47. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $193.57 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm's revenue was up 14.7% compared to the same quarter last year. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently 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 stock an "outperformer" rating in a research note on Thursday, June 4th. 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. Morgan Stanley decreased their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, March 12th. Weiss Ratings downgraded shares of The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. Finally, Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and cut their target price for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average target price of $103.17.

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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