The Descartes Systems Group Inc. (NASDAQ:DSGX) Short Interest Update

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 442,200 shares, an increase of 7.3% from the December 15th total of 412,200 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 195,300 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DSGX shares. TD Securities raised their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank lifted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DSGX. Trust Co. of Vermont bought a new position in The Descartes Systems Group in the fourth quarter worth approximately $54,000. GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after purchasing an additional 495 shares in the last quarter. Blue Trust Inc. grew its position in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Avanza Fonder AB bought a new stake in The Descartes Systems Group during the 4th quarter valued at $118,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in The Descartes Systems Group by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after buying an additional 279 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Up 0.7 %

DSGX stock traded up $0.81 during mid-day trading on Friday, reaching $115.85. The company’s stock had a trading volume of 258,738 shares, compared to its average volume of 173,042. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 72.86 and a beta of 0.99. The Descartes Systems Group has a 12 month low of $84.11 and a 12 month high of $122.88. The business’s 50 day moving average price is $115.53 and its 200 day moving average price is $106.35.

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.