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

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 444,900 shares, a growth of 31.2% from the February 29th total of 339,000 shares. Currently, 0.5% of the company's stock are sold short. Based on an average trading volume of 145,600 shares, the short-interest ratio is presently 3.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of The Descartes Systems Group by 20.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company's stock worth $762,578,000 after purchasing an additional 1,834,084 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of The Descartes Systems Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company's stock worth $260,312,000 after purchasing an additional 31,078 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of The Descartes Systems Group by 0.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company's stock worth $221,675,000 after purchasing an additional 20,875 shares in the last quarter. Durable Capital Partners LP grew its holdings in shares of The Descartes Systems Group by 60.6% during the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company's stock worth $189,381,000 after purchasing an additional 975,727 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 9.3% during the 4th quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company's stock worth $204,169,000 after purchasing an additional 206,193 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DSGX shares. TD Securities upped their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their price objective on The Descartes Systems Group from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. Raymond James upped their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, March 7th. Wolfe Research upgraded The Descartes Systems Group from a "peer perform" rating to an "outperform" rating and set a $95.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, BMO Capital Markets upped their price objective on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and an average target price of $97.78.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded down $0.55 on Friday, reaching $91.53. The stock had a trading volume of 106,170 shares, compared to its average volume of 169,018. The firm has a fifty day moving average of $89.37 and a two-hundred day moving average of $82.09. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $94.54. The company has a market cap of $7.79 billion, a P/E ratio of 68.31 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period in the prior year, the firm posted $0.34 EPS. The company's revenue for the quarter was up 18.5% on a year-over-year basis. Research analysts predict that The Descartes Systems Group will post 1.66 EPS for the current fiscal year.

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.