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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 593,700 shares, a decrease of 6.9% from the July 15th total of 637,800 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 150,300 shares, the short-interest ratio is presently 4.0 days.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in DSGX. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $27,000. Accent Capital Management LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after buying an additional 429 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several research reports. BMO Capital Markets lifted their price target on The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Thursday, May 30th. Stephens lifted their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. CIBC raised their price objective on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Barclays upped their target price on The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Finally, Royal Bank of Canada raised their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group Trading Down 0.3 %

Shares of DSGX opened at $100.31 on Wednesday. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $104.71. The firm has a market capitalization of $8.56 billion, a P/E ratio of 71.65 and a beta of 0.98. The stock’s fifty day simple moving average is $97.91 and its 200 day simple moving average is $94.06.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The firm had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts predict that The Descartes Systems Group will post 1.7 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.