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 during the month of 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. Approximately 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.

Institutional Trading of The Descartes Systems Group

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of The Descartes Systems Group by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock valued at $904,000 after purchasing an additional 438 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in The Descartes Systems Group by 2.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock valued at $1,758,000 after buying an additional 345 shares during the last quarter. Sone Capital Management LLC acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $4,754,000. Finally, Squarepoint Ops LLC purchased a new stake in The Descartes Systems Group during the 4th quarter worth about $712,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DSGX has been the topic of a number of analyst reports. TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday. CIBC decreased their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Five investment 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 company. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX traded down $1.39 during midday trading on Friday, hitting $100.24. The company’s stock had a trading volume of 206,101 shares, compared to its average volume of 196,292. The Descartes Systems Group has a 1 year low of $87.20 and a 1 year high of $124.31. The business’s fifty day simple moving average is $110.36 and its two-hundred day simple moving average is $110.33. 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 Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. Analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

About The Descartes Systems Group

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.