Short Interest in The Descartes Systems Group Inc. (NASDAQ:DSGX) Expands By 8.1%

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 560,100 shares, an increase of 8.1% from the October 15th total of 518,200 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 129,500 shares, the days-to-cover ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 5th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research note on Friday. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, BMO Capital Markets increased their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.25.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $1.22 during mid-day trading on Monday, reaching $112.63. 127,358 shares of the company were exchanged, compared to its average volume of 152,894. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 76.10 and a beta of 0.97. The firm’s 50-day simple moving average is $104.91 and its 200 day simple moving average is $100.11. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. On average, research analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its stake in The Descartes Systems Group by 5.3% during the 1st quarter. US Bancorp DE now owns 6,615 shares of the technology company’s stock worth $605,000 after acquiring an additional 331 shares in the last quarter. Intech Investment Management LLC acquired a new stake in The Descartes Systems Group during the 1st quarter worth $915,000. Vanguard Group Inc. raised its stake in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after acquiring an additional 40,897 shares in the last quarter. Acadian Asset Management LLC raised its stake in The Descartes Systems Group by 527.7% during the 1st quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock worth $5,398,000 after acquiring an additional 49,600 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in The Descartes Systems Group by 7.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,649 shares of the technology company’s stock worth $1,707,000 after acquiring an additional 1,294 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.