Short Interest in Insight Enterprises, Inc. (NASDAQ:NSIT) Declines By 31.1%

Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,220,000 shares, a drop of 31.1% from the February 13th total of 1,770,000 shares. Based on an average daily trading volume, of 395,600 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Insight Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baron Wealth Management LLC lifted its stake in shares of Insight Enterprises by 3.8% during the fourth quarter. Baron Wealth Management LLC now owns 1,570 shares of the software maker’s stock worth $239,000 after purchasing an additional 58 shares in the last quarter. NewEdge Advisors LLC grew its position in Insight Enterprises by 32.8% in the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock valued at $39,000 after acquiring an additional 63 shares in the last quarter. Huntington National Bank grew its position in Insight Enterprises by 7.3% in the third quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after acquiring an additional 68 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Insight Enterprises by 2.0% during the third quarter. Quantinno Capital Management LP now owns 3,456 shares of the software maker’s stock valued at $744,000 after purchasing an additional 68 shares during the period. Finally, J.Safra Asset Management Corp lifted its position in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock worth $37,000 after purchasing an additional 71 shares in the last quarter.

Insight Enterprises Price Performance

NSIT stock opened at $151.43 on Friday. The company has a market cap of $4.81 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $162.88 and a two-hundred day moving average price of $177.31. Insight Enterprises has a 12-month low of $146.56 and a 12-month high of $228.07.

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, topping analysts’ consensus estimates of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same quarter in the prior year, the firm posted $2.98 earnings per share. As a group, research analysts predict that Insight Enterprises will post 9.89 EPS for the current year.

Insight Enterprises Company Profile

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.