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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 442,200 shares, a growth of 7.3% from the December 31st total of 412,200 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 195,300 shares, the short-interest ratio is presently 2.3 days.

Analysts Set New Price Targets

DSGX has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital began coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price on the stock. Scotiabank upped their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Mather Group LLC. grew its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. Trust Co. of Vermont bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $54,000. GAMMA Investing LLC grew its position in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. grew its position in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the period. Finally, Allworth Financial LP grew its position in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $115.67 on Tuesday. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 72.75 and a beta of 0.99. The Descartes Systems Group has a 52 week low of $84.12 and a 52 week high of $122.88. The firm has a 50-day moving average price of $116.22 and a two-hundred day moving average price of $107.72.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current 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.