Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,640,000 shares, an increase of 9.1% from the December 15th total of 2,420,000 shares. Based on an average daily trading volume, of 265,500 shares, the short-interest ratio is currently 9.9 days. Currently, 7.6% of the shares of the company are sold short.
In related news, Director Bruce Armstrong sold 3,523 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $66.13, for a total transaction of $232,975.99. Also, Director Kathleen S. Pushor bought 3,800 shares of Insight Enterprises stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $62.93 per share, with a total value of $239,134.00. Following the acquisition, the director now owns 3,311 shares of the company’s stock, valued at $208,361.23. The disclosure for this purchase can be found here. Company insiders own 1.75% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. acquired a new stake in Insight Enterprises during the fourth quarter valued at $42,000. Robeco Institutional Asset Management B.V. acquired a new stake in Insight Enterprises during the third quarter valued at $163,000. First Hawaiian Bank acquired a new stake in Insight Enterprises during the fourth quarter valued at $281,000. Lavaca Capital LLC acquired a new stake in Insight Enterprises during the third quarter valued at $242,000. Finally, CSat Investment Advisory L.P. acquired a new stake in Insight Enterprises during the second quarter valued at $307,000. Institutional investors own 99.05% of the company’s stock.
NSIT stock opened at $71.40 on Friday. The firm has a market cap of $2.53 billion, a PE ratio of 15.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.47 and a current ratio of 1.60. The firm’s fifty day moving average is $68.66 and its 200 day moving average is $59.10. Insight Enterprises has a one year low of $42.67 and a one year high of $73.22.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.99 billion. Insight Enterprises had a net margin of 2.28% and a return on equity of 17.21%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. Research analysts predict that Insight Enterprises will post 5.46 earnings per share for the current fiscal year.
Several research analysts recently issued reports on NSIT shares. BidaskClub cut shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a report on Tuesday. ValuEngine cut shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, B. Riley set a $79.00 target price on shares of Insight Enterprises and gave the stock a “buy” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.25.
About Insight Enterprises
Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.
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