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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 442,200 shares, a growth of 7.3% from the December 15th total of 412,200 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 195,300 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC increased its position in The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares during the period. Blue Trust Inc. increased its position in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Avanza Fonder AB acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $118,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.7 %

DSGX stock opened at $115.85 on Tuesday. The stock has a market capitalization of $9.91 billion, a P/E ratio of 72.86 and a beta of 0.99. The Descartes Systems Group has a 12 month low of $84.11 and a 12 month high of $122.88. The firm has a 50-day moving average price of $115.53 and a 200-day moving average price of $106.52.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DSGX shares. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Securities upped their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus price target of $117.92.

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.