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

Insight Enterprises, Inc. (NASDAQ:NSIT) saw a large drop in short interest during the month of 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 trading volume of 418,200 shares, the days-to-cover ratio is currently 5.7 days. Approximately 7.6% of the shares of the company are short sold.

Institutional Trading of Insight Enterprises

A number of large investors have recently modified their holdings of NSIT. Golden State Wealth Management LLC bought a new stake in shares of Insight Enterprises during the 4th quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Insight Enterprises during the 4th quarter valued at about $33,000. J.Safra Asset Management Corp lifted its position in Insight Enterprises by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock worth $37,000 after buying an additional 71 shares during the last quarter. NewEdge Advisors LLC lifted its position in Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after buying an additional 63 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Insight Enterprises by 287.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock worth $76,000 after buying an additional 374 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barrington Research decreased their price objective on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Redburn Atlantic started coverage on Insight Enterprises in a report on Friday, November 15th. They issued a “buy” rating and a $220.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $212.50.

Insight Enterprises Price Performance

NASDAQ NSIT traded down $1.99 during trading hours on Friday, hitting $165.58. The company had a trading volume of 410,638 shares, compared to its average volume of 383,058. Insight Enterprises has a 52 week low of $146.56 and a 52 week high of $228.07. The firm has a 50 day simple moving average of $162.44 and a 200 day simple moving average of $183.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.18. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.43 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last issued its 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 period in the prior year, the company posted $2.98 earnings per share. Equities research analysts expect that Insight Enterprises will post 9.9 earnings per share for the current year.

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.