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

Insight Enterprises, Inc. (NASDAQ:NSIT) was the recipient of 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 daily trading 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.

Institutional Investors Weigh In On Insight Enterprises

A number of institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its stake in 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 buying an additional 225,283 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Insight Enterprises by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker’s stock valued at $124,934,000 after buying an additional 2,944 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Insight Enterprises by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock valued at $142,073,000 after acquiring an additional 10,711 shares in the last quarter. Northern Trust Corp raised its position in shares of Insight Enterprises by 16.5% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $57,380,000.

Wall Street Analysts Forecast Growth

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

Insight Enterprises Stock Down 1.2 %

Shares of NASDAQ:NSIT traded down $1.99 during trading on Friday, hitting $165.58. The company’s stock had a trading volume of 410,638 shares, compared to its average volume of 383,058. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.18. Insight Enterprises has a fifty-two week low of $146.56 and a fifty-two week high of $228.07. The stock’s 50-day moving average price is $162.44 and its two-hundred day moving average price is $183.13. The company has a market capitalization of $5.26 billion, a PE ratio of 25.40, a PEG ratio of 1.43 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $2.98 EPS. As a group, sell-side analysts expect that Insight Enterprises will post 9.9 EPS 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.