The Descartes Systems Group Inc. (NASDAQ:DSGX) Sees Significant Increase in Short Interest

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Free Report) (TSE:DSG) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 444,900 shares, a growth of 31.2% from the February 29th total of 339,000 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 145,600 shares, the short-interest ratio is currently 3.1 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AtonRa Partners lifted its stake in shares of The Descartes Systems Group by 1.6% in the 4th quarter. AtonRa Partners now owns 8,639 shares of the technology company’s stock worth $726,000 after acquiring an additional 137 shares during the period. Signaturefd LLC raised its position in The Descartes Systems Group by 26.7% during the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after acquiring an additional 147 shares during the last quarter. Pathstone Family Office LLC grew its holdings in shares of The Descartes Systems Group by 1.9% during the fourth quarter. Pathstone Family Office LLC now owns 8,530 shares of the technology company’s stock worth $590,000 after buying an additional 155 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of The Descartes Systems Group by 4.7% during the fourth quarter. Squarepoint Ops LLC now owns 3,452 shares of the technology company’s stock worth $240,000 after buying an additional 156 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. grew its holdings in shares of The Descartes Systems Group by 0.3% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after buying an additional 173 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DSGX shares. CIBC lifted their price objective on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Barclays boosted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. Stephens boosted their price objective on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Raymond James boosted their price objective on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $97.78.

Read Our Latest Stock Analysis on DSGX

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $91.53 on Monday. The firm has a 50 day simple moving average of $89.37 and a 200-day simple moving average of $82.14. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $94.54. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 68.31 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last released its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts expect that The Descartes Systems Group will post 1.66 earnings per share for the current fiscal year.

About The Descartes Systems Group

(Get Free Report)

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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