Norges Bank Invests $100.41 Million in The Descartes Systems Group Inc. $DSGX

Norges Bank acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,144,488 shares of the technology company’s stock, valued at approximately $100,405,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fideuram Asset Management Ireland dac acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth about $170,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Descartes Systems Group by 41.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,331 shares of the technology company’s stock worth $117,000 after acquiring an additional 391 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of The Descartes Systems Group by 28.8% during the 4th quarter. Geode Capital Management LLC now owns 1,122,692 shares of the technology company’s stock worth $100,311,000 after acquiring an additional 251,026 shares in the last quarter. Summitry LLC boosted its position in shares of The Descartes Systems Group by 20.9% during the 4th quarter. Summitry LLC now owns 6,353 shares of the technology company’s stock worth $557,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of The Descartes Systems Group by 369.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,047 shares of the technology company’s stock worth $92,000 after acquiring an additional 824 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DSGX has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Barclays decreased their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Loop Capital reissued a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday. Canadian Imperial Bank of Commerce upped their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday. Finally, Weiss Ratings cut The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

More The Descartes Systems Group News

Here are the key news stories impacting The Descartes Systems Group this week:

• Positive Sentiment: Descartes reported fiscal Q1 2027 earnings of $0.55 per share, beating estimates of $0.53 and improving from $0.41 a year ago, which supports the stock after the earnings release. Article Title
• Positive Sentiment: Canadian Imperial Bank of Commerce raised its price target on Descartes to $118 from $116 and kept an outperformer rating, signaling continued optimism from analysts. Article Title
• Positive Sentiment: Loop Capital reaffirmed its buy rating on Descartes and maintained a $96 price target, reinforcing the view that the shares still have upside from current levels. Article Title
• Neutral Sentiment: Analyst coverage remains broadly constructive, with one report citing an average recommendation of “Moderate Buy,” indicating sentiment is generally favorable but not a major new catalyst. Article Title
• Negative Sentiment: Raymond James lowered its price target to $108 from $118, which may temper enthusiasm even though it still rates the stock outperform. Article Title

The Descartes Systems Group Stock Down 3.1%

Shares of NASDAQ DSGX opened at $75.46 on Friday. The stock has a market cap of $6.48 billion, a PE ratio of 37.73 and a beta of 0.64. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The business has a 50-day moving average price of $71.53 and a 200 day moving average price of $76.23.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $173.94 million. The Descartes Systems Group had a return on equity of 11.31% and a net margin of 23.35%.The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.66 earnings per share for the current year.

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.