Insight Enterprises, Inc. (NASDAQ:NSIT) Sees Large Growth in Short Interest

Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,670,000 shares, an increase of 36.9% from the February 28th total of 1,220,000 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily volume of 410,300 shares, the days-to-cover ratio is presently 4.1 days.

Insight Enterprises Stock Performance

Insight Enterprises stock traded down $0.86 during mid-day trading on Monday, reaching $151.77. 36,217 shares of the stock traded hands, compared to its average volume of 293,467. The business’s 50-day moving average is $161.97 and its 200-day moving average is $173.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.15. The stock has a market capitalization of $4.82 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. Insight Enterprises has a 12-month low of $146.56 and a 12-month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating 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 in the previous year, the firm posted $2.98 earnings per share. As a group, sell-side analysts predict that Insight Enterprises will post 9.89 EPS for the current fiscal year.

Institutional Trading of Insight Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in shares of Insight Enterprises during the fourth quarter valued at $32,000. R Squared Ltd bought a new position in shares of Insight Enterprises during the fourth quarter valued at approximately $33,000. J.Safra Asset Management Corp increased its holdings in Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock valued at $37,000 after buying an additional 71 shares during the period. NewEdge Advisors LLC raised its stake in Insight Enterprises by 32.8% in the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after buying an additional 63 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Insight Enterprises by 287.7% during the fourth 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 period.

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.