The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,070,000 shares, a growth of 73.9% from the February 28th total of 615,300 shares. Currently, 1.3% of the company's shares are short sold. Based on an average daily trading volume, of 282,700 shares, the days-to-cover ratio is presently 3.8 days.
Analyst Upgrades and Downgrades
Several research firms have commented on DSGX. Barclays lowered their price target on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. CIBC reduced their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.50.
View Our Latest Research Report on The Descartes Systems Group
The Descartes Systems Group Price Performance
The Descartes Systems Group stock traded up $2.14 during midday trading on Wednesday, hitting $104.01. 314,233 shares of the stock were exchanged, compared to its average volume of 198,255. The company has a 50 day moving average price of $109.40 and a two-hundred day moving average price of $110.42. The firm has a market cap of $8.90 billion, a P/E ratio of 65.42 and a beta of 0.99. The Descartes Systems Group has a 1 year low of $87.20 and a 1 year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. As a group, analysts predict that The Descartes Systems Group will post 1.64 EPS for the current year.
Institutional Trading of The Descartes Systems Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. grew its holdings in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after acquiring an additional 181 shares in the last quarter. GeoWealth Management LLC increased its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Trust Co. of Vermont bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $54,000. Finally, GAMMA Investing LLC grew its position in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock worth $57,000 after acquiring an additional 495 shares in the last quarter. Institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Company Profile
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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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