The Descartes Systems Group Inc. (NASDAQ:DSGX) Short Interest Up 73.9% in March

The Descartes Systems Group Inc. (NASDAQ:DSGX) (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 1,070,000 shares, a growth of 73.9% from the February 28th total of 615,300 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 282,700 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DSGX shares. Scotiabank lifted their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday. Barclays decreased their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Stephens cut their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.50.

Institutional Trading of The Descartes Systems Group

Several hedge funds have recently added to or reduced their stakes in DSGX. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Norges Bank purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $126,918,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of The Descartes Systems Group by 114.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after purchasing an additional 639,848 shares during the last quarter. National Bank of Canada FI grew its holdings in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Finally, Praesidium Investment Management Company LLC bought a new stake in The Descartes Systems Group in the 4th quarter worth $54,724,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Down 1.4 %

Shares of NASDAQ DSGX traded down $1.39 during mid-day trading on Friday, reaching $100.24. 206,101 shares of the company were exchanged, compared to its average volume of 196,292. The Descartes Systems Group has a 52 week low of $87.20 and a 52 week high of $124.31. The company’s 50 day moving average price is $110.36 and its 200 day moving average price is $110.33. The stock has a market capitalization of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

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.