Argent Capital Management LLC Buys 32,824 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Argent Capital Management increased its Descartes Systems Group stake by 56.9% in the first quarter, buying 32,824 additional shares to hold 90,549 shares worth approximately $6.48 million. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue rose 14.7% year over year. However, revenue of $166.96 million fell short of the $193.57 million analyst consensus.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $102.54, despite some recent target-price reductions.

Argent Capital Management LLC grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 56.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,549 shares of the technology company's stock after buying an additional 32,824 shares during the quarter. Argent Capital Management LLC owned 0.11% of The Descartes Systems Group worth $6,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $27,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group during the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $40,000. EverSource Wealth Advisors LLC increased its holdings in The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 401 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

DSGX stock opened at $75.16 on Friday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 37.58 and a beta of 0.64. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00. The stock has a fifty day moving average of $72.06 and a 200-day moving average of $72.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data 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 Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same quarter last year, the firm posted $0.41 EPS. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About The Descartes Systems Group

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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