The Descartes Systems Group Inc. (NASDAQ:DSGX) Sees Significant Decline in Short Interest

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 511,600 shares, a decrease of 5.7% from the August 31st total of 542,400 shares. Based on an average daily trading volume, of 132,200 shares, the short-interest ratio is currently 3.9 days. Approximately 0.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DSGX. Central Pacific Bank Trust Division bought a new stake in The Descartes Systems Group in the 1st quarter worth $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $27,000. Accent Capital Management LLC bought a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $32,000. Whittier Trust Co. of Nevada Inc. increased its holdings in 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 purchasing an additional 429 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in The Descartes Systems Group during the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 1.0 %

Shares of NASDAQ DSGX opened at $101.94 on Wednesday. The stock’s 50-day moving average is $99.23 and its 200 day moving average is $96.46. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 72.81 and a beta of 0.98. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $105.12.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the business posted $0.32 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. On average, analysts forecast that The Descartes Systems Group will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DSGX shares. Barclays increased their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Finally, BMO Capital Markets boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.83.

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.