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

The Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 665,000 shares, a decline of 28.9% from the September 15th total of 934,700 shares. Based on an average daily trading volume, of 155,600 shares, the days-to-cover ratio is currently 4.3 days. Currently, 0.8% of the shares of the stock are short sold.

A number of analysts have commented on the stock. BidaskClub downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 13th. Royal Bank of Canada boosted their price target on shares of The Descartes Systems Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Canaccord Genuity boosted their price target on shares of The Descartes Systems Group from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Stifel Nicolaus boosted their target price on shares of The Descartes Systems Group from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Finally, Barclays boosted their target price on shares of The Descartes Systems Group from $36.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The Descartes Systems Group currently has an average rating of “Hold” and a consensus target price of $60.20.

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp purchased a new position in shares of The Descartes Systems Group in the third quarter worth approximately $111,000. Marco Investment Management LLC purchased a new position in The Descartes Systems Group during the second quarter valued at approximately $226,000. Keybank National Association OH purchased a new position in The Descartes Systems Group during the second quarter valued at approximately $243,000. Hardy Reed LLC purchased a new position in The Descartes Systems Group during the second quarter valued at approximately $264,000. Finally, Engineers Gate Manager LP purchased a new position in The Descartes Systems Group during the first quarter valued at approximately $229,000. 79.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Descartes Systems Group stock traded up $0.21 during trading on Friday, hitting $55.75. The stock had a trading volume of 78,492 shares, compared to its average volume of 162,117. The stock has a 50 day simple moving average of $55.88 and a 200 day simple moving average of $50.06. The company has a market capitalization of $4.71 billion, a PE ratio of 113.78 and a beta of 1.13. The Descartes Systems Group has a 1 year low of $24.35 and a 1 year high of $63.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 9th. The technology company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $84.00 million for the quarter, compared to the consensus estimate of $81.64 million. The Descartes Systems Group had a net margin of 12.73% and a return on equity of 5.16%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that The Descartes Systems Group will post 0.55 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud, device, and data content-based solutions that focus on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform combines a network, applications, content, and a community. The company provides a suite of solutions that include routing, mobile and telematics; transportation management and e-commerce fulfillment; customs and regulatory compliance; global trade data and services; global logistics network services; and broker and forwarder enterprise systems.

See Also: Street Name

Receive News & Ratings for The Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.