Short Interest in The Descartes Systems Group Inc. (NASDAQ:DSGX) Increases By 73.9%

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,070,000 shares, an increase of 73.9% from the February 28th total of 615,300 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 282,700 shares, the short-interest ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several research reports. BMO Capital Markets reduced their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. CIBC reduced their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Stephens reduced their target price on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded down $1.39 during trading on Friday, hitting $100.24. 206,101 shares of the company traded hands, compared to its average volume of 196,292. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99. The business’s fifty day moving average is $110.36 and its 200 day moving average is $110.33. The Descartes Systems Group has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, analysts predict that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DSGX. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group during the 4th quarter valued at about $43,000. Jane Street Group LLC grew its holdings in The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after buying an additional 2,250 shares in the last quarter. Barclays PLC raised its position in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after buying an additional 270 shares during the last quarter. Canoe Financial LP bought a new position in The Descartes Systems Group during the 4th quarter valued at $7,939,000. Finally, Geode Capital Management LLC boosted its holdings in The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after acquiring an additional 46,523 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.