Short Interest in The Descartes Systems Group Inc. (NASDAQ:DSGX) Expands By 7.3%

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DSGX. Jane Street Group LLC lifted its position in The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 2,250 shares during the period. Plato Investment Management Ltd acquired a new position in The Descartes Systems Group in the third quarter worth approximately $2,308,000. Massachusetts Financial Services Co. MA increased its holdings in shares of The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after buying an additional 9,768 shares in the last quarter. Barclays PLC lifted its position in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after acquiring an additional 270 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $7,939,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Up 0.7 %

DSGX stock traded up $0.85 during mid-day trading on Tuesday, hitting $116.52. 39,291 shares of the company were exchanged, compared to its average volume of 189,143. The company has a market capitalization of $9.97 billion, a PE ratio of 73.36 and a beta of 0.99. The firm has a fifty day simple moving average of $116.22 and a 200 day simple moving average of $107.72. The Descartes Systems Group has a twelve month low of $84.12 and a twelve month high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the company posted $0.31 EPS. As a group, sell-side analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DSGX. TD Securities raised their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Scotiabank boosted 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. Loop Capital assumed 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 price target on the stock. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada increased their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

About The Descartes Systems Group

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.