The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Free Report) (TSE:DSG) saw a significant increase in short interest during the month of 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. Based on an average daily trading volume, of 195,300 shares, the short-interest ratio is currently 2.3 days. Currently, 0.5% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC lifted its holdings in shares of The Descartes Systems Group by 2.8% in the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after buying an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in The Descartes Systems Group by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after purchasing an additional 137 shares during the period. Assetmark Inc. grew its position in shares of The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of The Descartes Systems Group by 2.4% in the third quarter. Stephens Inc. AR now owns 10,086 shares of the technology company’s stock worth $1,038,000 after purchasing an additional 238 shares during the period. Finally, Signaturefd LLC raised its position in shares of The Descartes Systems Group by 12.1% in the third quarter. Signaturefd LLC now owns 2,425 shares of the technology company’s stock worth $250,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on DSGX shares. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. TD Securities upped their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada boosted their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.
The Descartes Systems Group Price Performance
Shares of The Descartes Systems Group stock traded up $0.81 during trading hours on Friday, reaching $115.85. The company had a trading volume of 258,738 shares, compared to its average volume of 173,042. The Descartes Systems Group has a one year low of $84.11 and a one year high of $122.88. The firm has a market cap of $9.90 billion, a PE ratio of 72.86 and a beta of 0.99. The business has a fifty day simple moving average of $115.53 and a 200 day simple moving average of $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.
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