Argent Capital Management LLC Boosts Stake in The Descartes Systems Group Inc. $DSGX

Argent Capital Management LLC increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 56.9% during the 1st quarter, Holdings Channel reports. The firm owned 90,549 shares of the technology company’s stock after purchasing an additional 32,824 shares during the quarter. Argent Capital Management LLC’s holdings in The Descartes Systems Group were worth $6,480,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of The Descartes Systems Group in the 3rd quarter worth about $27,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group during the third quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its stake in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of The Descartes Systems Group in the third quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce boosted 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 report on Thursday, June 4th. Loop Capital restated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Finally, Raymond James Financial decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Performance

DSGX stock opened at $75.16 on Friday. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 37.58 and a beta of 0.64. The business’s 50-day moving average is $72.06 and its two-hundred day moving average is $72.00. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Equities analysts predict that The Descartes Systems Group Inc. will post 2.37 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.