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

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 681,100 shares, a growth of 5.1% from the October 15th total of 647,900 shares. Based on an average daily trading volume, of 175,400 shares, the short-interest ratio is presently 3.9 days.

The Descartes Systems Group Price Performance

DSGX opened at $67.51 on Friday. The company has a fifty day moving average price of $67.32 and a 200-day moving average price of $65.70. The firm has a market capitalization of $5.73 billion, a P/E ratio of 63.69 and a beta of 1.03. The Descartes Systems Group has a one year low of $56.19 and a one year high of $91.39.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The Descartes Systems Group had a net margin of 19.69% and a return on equity of 8.97%. The company had revenue of $123.01 million during the quarter, compared to the consensus estimate of $118.72 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group will post 1.08 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management LLC bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $3,039,000. Fred Alger Management LLC bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $30,000. Jane Street Group LLC lifted its holdings in shares of The Descartes Systems Group by 1,893.7% during the 3rd quarter. Jane Street Group LLC now owns 223,493 shares of the technology company’s stock worth $14,199,000 after acquiring an additional 212,283 shares during the last quarter. Maven Securities LTD bought a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $235,000. Finally, BNP Paribas Arbitrage SNC bought a new stake in The Descartes Systems Group in the third quarter worth $128,000. 80.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DSGX. TD Securities lifted their price objective on shares of The Descartes Systems Group from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. StockNews.com began coverage on shares of The Descartes Systems Group in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays lowered shares of The Descartes Systems Group from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $72.00 to $60.00 in a research note on Tuesday, October 18th. Canaccord Genuity Group lifted their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Hold” and a consensus target price of $74.89.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

Further Reading

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