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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 442,200 shares, an increase of 7.3% from the December 31st total of 412,200 shares. Based on an average trading volume of 195,300 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.5% of the company’s shares are sold short.

Analyst Ratings Changes

DSGX has been the subject of a number of recent analyst reports. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Scotiabank boosted their target price on shares of 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. 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 target for the company. Finally, TD Securities boosted 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. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

Institutional Trading of The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI boosted its position in shares of The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after buying an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after acquiring an additional 219,736 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after acquiring an additional 102,208 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at about $7,939,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded up $0.78 during midday trading on Tuesday, hitting $116.45. 30,337 shares of the stock traded hands, compared to its average volume of 188,577. The Descartes Systems Group has a one year low of $84.12 and a one year high of $122.88. The business has a 50 day moving average price of $116.22 and a two-hundred day moving average price of $107.72. The company has a market cap of $9.96 billion, a PE ratio of 73.24 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter last year, the company posted $0.31 EPS. As a group, equities research analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

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.