Public Employees Retirement System of Ohio Invests $1.87 Million in The Descartes Systems Group Inc. $DSGX

Key Points

• Public Employees Retirement System of Ohio initiated a $1.87 million position in The Descartes Systems Group, purchasing 26,960 shares during the second quarter.
• Institutional ownership remains significant at 77.73%, with several major investors—including Mackenzie Financial, Janus Henderson and Arrowstreet Capital—raising their holdings.
• Analysts maintain a favorable outlook, with DSGX carrying a “Moderate Buy” consensus rating and an average price target of $102.46, compared with its reported opening price of $78.94.

Public Employees Retirement System of Ohio purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,960 shares of the technology company's stock, valued at approximately $1,867,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp lifted its holdings in The Descartes Systems Group by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock worth $296,326,000 after purchasing an additional 56,069 shares during the period. Jupiter Topco LLC acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $181,742,000. Janus Henderson Group PLC boosted its holdings in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company's stock valued at $184,127,000 after acquiring an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $141,403,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of 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 valued at $152,898,000 after acquiring an additional 743,104 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DSGX has been the topic of several recent analyst reports. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a report on Monday, July 20th. 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. Raymond James Financial dropped 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 note on Thursday, June 4th. Canadian Imperial Bank of Commerce upped their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Thursday, June 4th. Finally, Loop Capital reaffirmed a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group 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 issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $102.46.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $78.94 on Monday. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 39.47 and a beta of 0.62. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00. The company has a 50 day moving average price of $75.22 and a 200 day moving average price of $72.28.

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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