Short Interest in The Descartes Systems Group Inc. (NASDAQ:DSGX) Declines By 8.4%

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

Analysts Set New Price Targets

DSGX has been the subject of several analyst reports. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Wednesday, January 10th. Raymond James upped their price target on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Barclays raised their price objective on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. BMO Capital Markets upped their target price on The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, TD Securities raised their price target on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $0.47 on Monday, reaching $93.77. 262,965 shares of the company’s stock were exchanged, compared to its average volume of 165,091. The firm’s 50-day moving average is $90.52 and its two-hundred day moving average is $84.79. The company has a market capitalization of $7.99 billion, a P/E ratio of 69.98 and a beta of 0.94. The Descartes Systems Group has a 52 week low of $69.59 and a 52 week high of $96.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping 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 business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts expect that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of The Descartes Systems Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock valued at $260,312,000 after purchasing an additional 31,078 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in The Descartes Systems Group by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,049,464 shares of the technology company’s stock valued at $279,117,000 after buying an additional 23,285 shares during the last quarter. Fiera Capital Corp lifted its stake in 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 valued at $204,169,000 after acquiring an additional 206,193 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 8.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,544,300 shares of the technology company’s stock worth $113,339,000 after acquiring an additional 41,854 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

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.