Descartes Systems (DSGX)

• Market cap: $8.47B
• 1 day: 1.80%
• 5 days: 0.48%
• 1 month: -15.10%
• 3 months: -17.05%
• 6 months: -0.61%
• Year to date: -12.83%
• 1 year: 6.65%
• 5 years: 218.44%
• 10 years: 560.48%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Descartes Systems Group provides a software solution that allows users in the shipping industry to communicate with one another. Its core product is the Global Logistics Network, which is best understood as transaction-driven. Descartes charges clients to send/receive messages, data, and documents on the GLN. Customers typically contract for a monthly minimum over a multiyear period. The GLN platform allows Descartes to upsell additional software modules as well, typically provided via a software-as-a-service model.

Employees: 2,175

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

213% more first-time investments, than exits

New positions opened: 50 | Existing positions closed: 16

40% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 7 (+2) [Q4]

20% more capital invested

Capital invested by funds: $6.79B [Q3] → $8.15B (+$1.36B) [Q4]

9% more funds holding

Funds holding: 336 [Q3] → 365 (+29) [Q4]

8.46% more ownership

Funds ownership: 76.88% [Q3] → 85.34% (+8.46%) [Q4]

9% less repeat investments, than reductions

Existing positions increased: 129 | Existing positions reduced: 142

33% less call options, than puts

Call options by funds: $7.07M | Put options by funds: $10.6M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $113 14% upside
• Avg. target: $128 29% upside
• High target: $140 41% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

BMO Capital Thanos Moschopoulos 60% 1-year accuracy 3 / 5 met price target	14% upside $113	Market Perform Maintained	6 Mar 2025
RBC Capital Paul Treiber 37% 1-year accuracy 7 / 19 met price target	31% upside $130	Outperform Maintained	6 Mar 2025
Barclays Raimo Lenschow 35% 1-year accuracy 29 / 82 met price target	19% upside $118	Equal-Weight Maintained	6 Mar 2025
Stephens & Co. John Campbell 58% 1-year accuracy 22 / 38 met price target	38% upside $137	Overweight Maintained	6 Mar 2025
Loop Capital Mark Schappel 50% 1-year accuracy 18 / 36 met price target	42% upside $140	Buy Initiated	17 Dec 2024