Short Interest in Insight Enterprises, Inc. (NASDAQ:NSIT) Drops By 20.2%

Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,370,000 shares, a decline of 20.2% from the January 15th total of 2,970,000 shares. Based on an average daily volume of 418,200 shares, the short-interest ratio is currently 5.7 days. Approximately 7.6% of the company’s shares are short sold.

Insight Enterprises Trading Down 1.2 %

Shares of NSIT traded down $1.99 during mid-day trading on Friday, hitting $165.58. 410,638 shares of the company’s stock traded hands, compared to its average volume of 383,058. The company has a quick ratio of 1.20, a current ratio of 1.18 and a debt-to-equity ratio of 0.30. Insight Enterprises has a 1 year low of $146.56 and a 1 year high of $228.07. The firm has a market capitalization of $5.26 billion, a P/E ratio of 25.40, a PEG ratio of 1.43 and a beta of 1.42. The business’s 50-day moving average price is $162.44 and its 200-day moving average price is $183.42.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. During the same quarter in the previous year, the firm earned $2.98 EPS. As a group, sell-side analysts forecast that Insight Enterprises will post 9.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NSIT. Redburn Atlantic began coverage on Insight Enterprises in a research note on Friday, November 15th. They issued a “buy” rating and a $220.00 price target on the stock. Barrington Research decreased their price target on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Insight Enterprises currently has an average rating of “Hold” and a consensus target price of $212.50.

Institutional Investors Weigh In On Insight Enterprises

Several hedge funds have recently made changes to their positions in NSIT. Massachusetts Financial Services Co. MA bought a new stake in shares of Insight Enterprises during the fourth quarter valued at approximately $57,380,000. Norges Bank bought a new stake in shares of Insight Enterprises during the fourth quarter valued at approximately $47,585,000. Hennessy Advisors Inc. bought a new stake in shares of Insight Enterprises during the fourth quarter valued at approximately $39,242,000. Pacer Advisors Inc. boosted its position in shares of Insight Enterprises by 26.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock valued at $163,243,000 after purchasing an additional 225,283 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Insight Enterprises by 65.7% during the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock valued at $41,188,000 after purchasing an additional 107,397 shares in the last quarter.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.