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

Insight Enterprises, Inc. (NASDAQ:NSIT) saw a significant drop in short interest in 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. Currently, 7.6% of the shares of the stock are sold short. Based on an average trading volume of 418,200 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Insight Enterprises

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Insight Enterprises by 1.7% in the third quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock worth $142,073,000 after purchasing an additional 10,711 shares during the last quarter. EULAV Asset Management grew its position in shares of Insight Enterprises by 7.2% in the 3rd quarter. EULAV Asset Management now owns 49,879 shares of the software maker’s stock valued at $10,743,000 after buying an additional 3,359 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Insight Enterprises by 65.0% in the third quarter. Harbor Capital Advisors Inc. now owns 23,578 shares of the software maker’s stock valued at $5,078,000 after buying an additional 9,289 shares during the period. Barclays PLC increased its position in Insight Enterprises by 178.3% during the 3rd quarter. Barclays PLC now owns 56,402 shares of the software maker’s stock valued at $12,150,000 after purchasing an additional 36,132 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Insight Enterprises by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 368,951 shares of the software maker’s stock worth $79,468,000 after purchasing an additional 85,428 shares during the last quarter.

Wall Street Analyst Weigh In

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

Insight Enterprises Stock Performance

Shares of NSIT opened at $165.58 on Monday. The company has a market cap 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. The firm has a 50-day moving average of $162.44 and a 200-day moving average of $182.84. Insight Enterprises has a one year low of $146.56 and a one year high of $228.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.20.

Insight Enterprises (NASDAQ:NSIT) last announced 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 net margin of 2.87% and a return on equity of 18.95%. During the same quarter in the prior year, the business posted $2.98 earnings per share. As a group, equities analysts forecast 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.