The Descartes Systems Group Inc. (NASDAQ:DSGX) Sees Large Growth in Short Interest

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

The Descartes Systems Group Trading Up 0.7 %

NASDAQ DSGX opened at $115.85 on Tuesday. The company has a fifty day simple moving average of $115.53 and a 200 day simple moving average of $106.52. The Descartes Systems Group has a 12-month low of $84.11 and a 12-month high of $122.88. The company has a market cap of $9.91 billion, a P/E ratio of 72.86 and a beta of 0.99.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont purchased a new position in The Descartes Systems Group during the 4th quarter worth $54,000. GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares during the last quarter. Blue Trust Inc. boosted its holdings in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares during the last quarter. Avanza Fonder AB purchased a new position in The Descartes Systems Group during the 4th quarter worth $118,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DSGX shares. Loop Capital started coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Finally, Scotiabank lifted their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Five research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

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.