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 growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,070,000 shares, a growth of 73.9% from the February 28th total of 615,300 shares. Based on an average trading volume of 282,700 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.3% of the shares of the company are short sold.

The Descartes Systems Group Trading Down 1.4 %

Shares of NASDAQ:DSGX traded down $1.39 during trading on Friday, hitting $100.24. 206,101 shares of the stock were exchanged, compared to its average volume of 196,292. The Descartes Systems Group has a 12-month low of $87.20 and a 12-month high of $124.31. The company has a market cap of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99. The company has a fifty day moving average price of $110.36 and a two-hundred day moving average price of $110.33.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $169.97 million. Equities research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DSGX shares. TD Securities increased their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $120.50.

Institutional Trading of The Descartes Systems Group

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

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.