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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the recipient of a large increase in short interest in 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. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 195,300 shares, the short-interest ratio is presently 2.3 days.

The Descartes Systems Group Trading Up 0.7 %

Shares of DSGX stock traded up $0.81 during trading hours on Monday, reaching $115.85. The company’s stock had a trading volume of 258,738 shares, compared to its average volume of 173,042. The stock has a market capitalization of $9.91 billion, a P/E ratio of 72.86 and a beta of 0.99. The Descartes Systems Group has a one year low of $84.11 and a one year high of $122.88. The firm’s fifty day simple moving average is $115.53 and its 200 day simple moving average is $106.40.

Analysts Set New Price Targets

Several analysts have weighed in on DSGX shares. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective on the stock. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. BMO Capital Markets raised their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

Institutional Investors Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. Envestnet Asset Management Inc. grew its position in shares of The Descartes Systems Group by 53.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock worth $24,274,000 after buying an additional 86,998 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of The Descartes Systems Group by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 111,351 shares of the technology company’s stock valued at $10,784,000 after purchasing an additional 9,698 shares in the last quarter. Wealth Alliance bought a new stake in shares of The Descartes Systems Group during the second quarter valued at approximately $213,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of The Descartes Systems Group by 18.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,067 shares of the technology company’s stock valued at $877,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of The Descartes Systems Group by 59.2% during the second quarter. Canada Pension Plan Investment Board now owns 148,151 shares of the technology company’s stock valued at $14,351,000 after purchasing an additional 55,100 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.