Short Interest in The Descartes Systems Group Inc. (NASDAQ:DSGX) Declines By 12.1%

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 444,400 shares, a decrease of 12.1% from the August 15th total of 505,700 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 152,500 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. Sageworth Trust Co of South Dakota lifted its stake in The Descartes Systems Group by 140.6% during the second quarter. Sageworth Trust Co of South Dakota now owns 450 shares of the technology company’s stock worth $28,000 after purchasing an additional 263 shares during the last quarter. Captrust Financial Advisors lifted its stake in The Descartes Systems Group by 270.8% during the second quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after purchasing an additional 325 shares during the last quarter. New Century Advisors LLC lifted its stake in The Descartes Systems Group by 74.1% during the first quarter. New Century Advisors LLC now owns 416 shares of the technology company’s stock worth $30,000 after purchasing an additional 177 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in The Descartes Systems Group by 8,814.3% during the second quarter. First Horizon Advisors Inc. now owns 624 shares of the technology company’s stock worth $38,000 after purchasing an additional 617 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in The Descartes Systems Group during the second quarter worth $53,000. 80.28% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Down 4.5 %

Shares of DSGX stock opened at $65.88 on Friday. The stock has a 50 day simple moving average of $68.80 and a 200 day simple moving average of $66.47. The Descartes Systems Group has a 1 year low of $56.19 and a 1 year high of $91.39. The stock has a market cap of $5.59 billion, a P/E ratio of 62.15 and a beta of 1.03.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last released its earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The Descartes Systems Group had a return on equity of 8.97% and a net margin of 19.69%. The firm had revenue of $123.01 million during the quarter, compared to analysts’ expectations of $118.72 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts forecast that The Descartes Systems Group will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DSGX shares. Royal Bank of Canada decreased their target price on The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. TD Securities upped their target price on The Descartes Systems Group from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Barclays boosted their price target on The Descartes Systems Group from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Finally, Stephens cut their price target on The Descartes Systems Group to $80.00 in a research note on Friday, June 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.22.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

Further Reading

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