Centaurus Financial Inc. Purchases New Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Centaurus Financial initiated a position of 43,057 shares in The Descartes Systems Group during the second quarter, valued at approximately $2.98 million. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly earnings of $0.55 per share, beating estimates of $0.52, while revenue rose 14.7% year over year to $166.96 million, below the $193.57 million consensus forecast.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $102.54, compared with the stock’s reported price of $80.66.

Centaurus Financial Inc. purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 43,057 shares of the technology company's stock, valued at approximately $2,981,000. Centaurus Financial Inc. owned 0.05% of The Descartes Systems Group at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DSGX. Quarry LP purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $27,000. Danske Bank A S acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $40,000. Trust Co. of Vermont purchased a new position in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $33,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $80.66 on Friday. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 40.33 and a beta of 0.62. The company's 50-day moving average is $73.73 and its two-hundred day moving average is $71.70. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

DSGX has been the subject of several recent analyst reports. Raymond James Financial cut their price target 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. Weiss Ratings raised shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Loop Capital reiterated a "buy" rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. 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 stock an "outperformer" rating in a research note on Thursday, June 4th. Finally, National Bank Financial set a $95.00 price target on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group currently 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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