The Descartes Systems Group Inc. (NASDAQ:DSGX) Short Interest Up 8.1% in October

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 560,100 shares, a growth of 8.1% from the October 15th total of 518,200 shares. Based on an average trading volume of 129,500 shares, the days-to-cover ratio is presently 4.3 days. Approximately 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after purchasing an additional 278,796 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $20,608,000. Grandeur Peak Global Advisors LLC bought a new position in The Descartes Systems Group in the 1st quarter valued at $19,264,000. Finally, Triasima Portfolio Management inc. grew its position in The Descartes Systems Group by 90.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after acquiring an additional 120,325 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $112.63 on Tuesday. The Descartes Systems Group has a 1-year low of $79.21 and a 1-year high of $117.24. The business has a fifty day moving average price of $104.91 and a 200-day moving average price of $100.11. The company has a market capitalization of $9.63 billion, a PE ratio of 76.10 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday. Scotiabank upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

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.