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 target of a large growth in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 282,700 shares, the days-to-cover ratio is presently 3.8 days.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $100.24 on Monday. The stock’s fifty day moving average price is $110.36 and its 200 day moving average price is $110.33. The Descartes Systems Group has a 1 year low of $87.20 and a 1 year high of $124.31. The company has a market cap of $8.58 billion, a price-to-earnings 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 (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $167.50 million during 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%. Research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DSGX shares. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday. Barclays reduced their price target 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. Finally, 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 objective on the stock. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.50.

Institutional Trading of The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Mather Group LLC. boosted its holdings in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group during the fourth quarter worth about $43,000. Trust Co. of Vermont purchased a new position in The Descartes Systems Group during the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC lifted its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after acquiring an additional 495 shares during the period. 77.73% of the stock is owned by hedge funds and other 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.