The Descartes Systems Group Inc. (NASDAQ:DSGX) Short Interest Update

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 460,600 shares, a decline of 8.4% from the March 31st total of 502,600 shares. Based on an average trading volume of 168,600 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.5% of the shares of the company are short sold.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently bought and sold shares of DSGX. Brown Brothers Harriman & Co. acquired a new position in shares of The Descartes Systems Group during the fourth quarter worth approximately $27,000. Accent Capital Management LLC acquired a new position in The Descartes Systems Group during the 4th quarter worth $32,000. Operose Advisors LLC bought a new position in The Descartes Systems Group in the 3rd quarter valued at $35,000. Signaturefd LLC increased its stake in shares of The Descartes Systems Group by 26.7% in the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after buying an additional 147 shares during the period. Finally, Park Place Capital Corp raised its position in shares of The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. CIBC raised The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $96.50 to $101.00 in a report on Tuesday, April 16th. Scotiabank raised their price objective 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. Barclays boosted their price objective on The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, February 20th. Finally, Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 target price for the company in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded down $0.47 during midday trading on Monday, reaching $93.77. 262,965 shares of the company traded hands, compared to its average volume of 165,091. The firm has a market cap of $7.99 billion, a PE ratio of 69.98 and a beta of 0.94. The stock’s 50-day simple moving average is $90.52 and its 200-day simple moving average is $84.79. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $96.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts expect that The Descartes Systems Group will post 1.69 EPS for the current year.

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.