Insight Enterprises, Inc. (NASDAQ:NSIT) Sees Significant Decline in Short Interest

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

Hedge Funds Weigh In On Insight Enterprises

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Insight Enterprises by 26.6% in 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of Insight Enterprises by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker’s stock worth $124,934,000 after purchasing an additional 2,944 shares during the period. Geode Capital Management LLC grew its holdings in shares of Insight Enterprises by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock worth $142,073,000 after acquiring an additional 10,711 shares during the period. Northern Trust Corp grew its stake in Insight Enterprises by 16.5% in the 4th quarter. Northern Trust Corp now owns 446,526 shares of the software maker’s stock valued at $67,917,000 after acquiring an additional 63,200 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $57,380,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Redburn Atlantic initiated 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 cut their target price on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $212.50.

Insight Enterprises Stock Down 1.2 %

NASDAQ:NSIT traded down $1.99 during midday trading on Friday, hitting $165.58. 410,638 shares of the company were exchanged, compared to its average volume of 383,058. The company has a fifty day simple moving average of $162.44 and a 200 day simple moving average of $183.13. The company has a current ratio of 1.18, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. Insight Enterprises has a fifty-two week low of $146.56 and a fifty-two week high of $228.07. The company has a market capitalization of $5.26 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 EPS for the quarter, topping 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 last year, the business earned $2.98 EPS. As a group, equities analysts anticipate that Insight Enterprises will post 9.9 earnings per share for the current fiscal 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.