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

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Free Report) (TSE:DSG) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 621,200 shares, a growth of 34.9% from the April 15th total of 460,600 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 179,200 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on DSGX shares. CIBC raised The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and raised their price target for the stock from $96.50 to $101.00 in a report on Tuesday, April 16th. William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. Scotiabank boosted their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research report on Thursday, March 7th. Stephens raised their price target on The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $97.60.

Read Our Latest Stock Analysis on The Descartes Systems Group

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of The Descartes Systems Group during the first quarter worth about $28,000. Brown Brothers Harriman & Co. bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $27,000. Accent Capital Management LLC purchased a new stake in The Descartes Systems Group in the fourth quarter worth $32,000. Operose Advisors LLC bought a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at $35,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after buying an additional 429 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $95.71 on Wednesday. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $98.53. The business has a 50 day moving average of $92.62 and a 200 day moving average of $86.62. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 71.43 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last issued its earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, sell-side analysts anticipate that The Descartes Systems Group will post 1.69 EPS for the current year.

About The Descartes Systems Group

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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.

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