Sone Capital Management LLC Buys Shares of 291,962 The Descartes Systems Group Inc. $DSGX

Key Points

• Sone Capital Management initiated a position in The Descartes Systems Group by purchasing 291,962 shares valued at approximately $20.2 million, representing about 0.34% of the company and 1.5% of its portfolio.
• Institutional ownership remains high at 77.73%, with major investors including Vanguard, Mackenzie Financial, Janus Henderson, Arrowstreet Capital and Morgan Stanley increasing their stakes.
• Analysts maintain a broadly positive outlook, giving the stock a consensus “Moderate Buy” rating and an average price target of $102.54. Descartes recently beat quarterly EPS estimates, while revenue increased 14.7% year over year.

Sone Capital Management LLC purchased a new position 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 SEC. The institutional investor purchased 291,962 shares of the technology company's stock, valued at approximately $20,220,000. The Descartes Systems Group accounts for approximately 1.5% of Sone Capital Management LLC's portfolio, making the stock its 20th biggest holding. Sone Capital Management LLC owned approximately 0.34% of The Descartes Systems Group at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock worth $316,050,000 after purchasing an additional 69,260 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock worth $296,326,000 after buying an additional 56,069 shares during the period. Janus Henderson Group PLC grew its stake in The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company's stock valued at $184,127,000 after buying an additional 100,937 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock valued at $152,898,000 after buying an additional 743,104 shares in the last quarter. Finally, Morgan Stanley raised its holdings in The Descartes Systems Group by 97.2% during the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock valued at $138,888,000 after acquiring an additional 780,857 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Loop Capital restated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an "outperform" rating in a research note on Monday, July 20th. 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 report on Thursday, June 4th. Canadian Imperial Bank of Commerce raised their target price on 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. Finally, Weiss Ratings raised The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. One equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.54.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $78.47 on Tuesday. The firm has a fifty day moving average price of $73.19 and a two-hundred day moving average price of $71.46. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 39.23 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Equities research analysts expect 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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