Argent Capital Management LLC Acquires 7,729 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Argent Capital Management LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,410 shares of the technology company’s stock after purchasing an additional 7,729 shares during the quarter. Argent Capital Management LLC owned approximately 0.07% of The Descartes Systems Group worth $6,635,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DSGX. American Century Companies Inc. raised its position in shares of The Descartes Systems Group by 65.4% in the 2nd quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock valued at $23,640,000 after acquiring an additional 96,431 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of The Descartes Systems Group by 6.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,777 shares of the technology company’s stock valued at $655,000 after acquiring an additional 398 shares during the period. Envestnet Asset Management Inc. raised its position in shares of The Descartes Systems Group by 53.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 86,998 shares during the period. Dimensional Fund Advisors LP raised its holdings in The Descartes Systems Group by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 111,351 shares of the technology company’s stock worth $10,784,000 after buying an additional 9,698 shares during the period. Finally, Wealth Alliance acquired a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $213,000. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DSGX. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Finally, StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $114.97 on Thursday. The Descartes Systems Group Inc. has a fifty-two week low of $82.88 and a fifty-two week high of $122.88. The business has a 50-day simple moving average of $115.47 and a two-hundred day simple moving average of $106.11. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 72.31 and a beta of 0.99.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.