T. Rowe Price Reports 8.1% Stake in Descartes

T. Rowe Price Associates, Inc., a Maryland-based investment adviser, filed an amended Schedule 13G reporting beneficial ownership of 6,993,172 shares of Descartes Systems common stock, representing 8.1% of the class as of the event date of 12/31/2025.

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc., a Maryland-based investment adviser, filed an amended Schedule 13G reporting beneficial ownership of 6,993,172 shares of Descartes Systems common stock, representing 8.1% of the class as of the event date of 12/31/2025.

The firm reports sole power to vote 7,514,534 shares and sole power to dispose of 7,725,466 shares, with no shared voting or dispositive power. It states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Descartes Systems.

FAQ

What ownership did T. Rowe Price report in its Schedule 13G/A for DSGX?

T. Rowe Price Associates reported beneficial ownership of 6,993,172 Descartes Systems shares, or 8.1% of the common stock. This stake reflects its position as of the 12/31/2025 event date and is disclosed as an investment held in the ordinary course of business.

How much of Descartes Systems’ stock, in percentage terms, does T. Rowe Price hold?

T. Rowe Price Associates reported owning 8.1% of Descartes Systems’ common stock. This percentage is based on 6,993,172 shares beneficially owned, as detailed in the Schedule 13G/A, indicating a significant but non-controlling institutional stake in the company.

What voting and dispositive powers does T. Rowe Price have over DSGX shares?

T. Rowe Price reports sole voting power over 7,514,534 shares and sole dispositive power over 7,725,466 shares. It reports no shared voting or shared dispositive power, meaning decisions to vote or sell these shares are controlled solely by T. Rowe Price Associates.

Why did T. Rowe Price state it holds Descartes Systems shares?

T. Rowe Price states the Descartes Systems shares were acquired and are held in the ordinary course of business. It further certifies the holdings were not acquired to change or influence control of the issuer, consistent with a passive institutional investment position.

Who is the reporting person in the Descartes Systems Schedule 13G/A filing?

The reporting person is T. Rowe Price Associates, Inc., a Maryland corporation. Its principal office is listed as 1307 Point Street, Baltimore, Maryland 21231, and it files as an institutional investment adviser reporting its beneficial ownership in Descartes Systems common stock.

What is the event date for T. Rowe Price’s reported ownership in DSGX?

The event date triggering this ownership report is 12/31/2025. The Schedule 13G/A reflects T. Rowe Price Associates’ beneficial ownership position in Descartes Systems common stock as of that date, including the 8.1% class percentage and detailed voting and dispositive powers.

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Accepted by SEC EDGAR 02/17/2026 - 10:26 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

DESCARTES SYSTEMS GRP/THE

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

249906108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 249906108

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,514,534.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,725,466.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,993,172.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DESCARTES SYSTEMS GRP/THE
(b)	Address of issuer's principal executive offices: 120 RANDALL ST, WATERLOO, ONTARIO, A6, N2V1C6
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 249906108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6993172
(b)	Percent of class: 8.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7514534
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7725466
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026