SEB Asset Management AB Invests $22.80 Million in The Descartes Systems Group Inc. $DSGX

Key Points

• SEB Asset Management AB disclosed a new position in The Descartes Systems Group during the first quarter, buying 319,404 shares valued at about $22.8 million. The stake represented roughly 0.37% of the company.
• Institutional interest in DSGX remains high, with hedge funds and asset managers owning about 77.73% of the stock. Recent filings also showed sizable positions from firms such as Vanguard, Norges Bank, and Clearbridge Investments.
• Analysts are generally bullish on the stock, with a consensus rating of Moderate Buy and an average price target of $102.54. However, opinions are mixed, as Weiss Ratings reiterated a sell rating while several other firms kept buy/outperform views.

SEB Asset Management AB purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 319,404 shares of the technology company's stock, valued at approximately $22,805,000. SEB Asset Management AB owned approximately 0.37% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in The Descartes Systems Group by 25.2% in the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company's stock worth $35,402,000 after purchasing an additional 81,354 shares during the period. Norges Bank purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $100,405,000. Vanguard Group Inc. grew its stake in shares of The Descartes Systems Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock valued at $316,050,000 after buying an additional 69,260 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of The Descartes Systems Group by 809.0% during the 4th quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company's stock worth $20,688,000 after purchasing an additional 210,041 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth $8,671,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on DSGX shares. Loop Capital reaffirmed a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a "sell (d+)" rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. Canadian Imperial Bank of Commerce increased their target price on shares of 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. Finally, Raymond James Financial decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.54.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $74.16 on Monday. The company has a market capitalization of $6.35 billion, a P/E ratio of 37.08 and a beta of 0.64. The business's 50 day simple moving average is $71.51 and its 200-day simple moving average is $72.91. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results 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 Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period last year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

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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