Short Interest in Insight Enterprises, Inc. (NASDAQ:NSIT) Drops By 20.3%

Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,610,000 shares, a decrease of 20.3% from the September 30th total of 2,020,000 shares. Based on an average daily volume of 226,200 shares, the days-to-cover ratio is presently 7.1 days. Currently, 5.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the sale, the insider now directly owns 5,460 shares in the company, valued at $1,124,923.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Insight Enterprises in the 2nd quarter worth $38,000. GAMMA Investing LLC grew its holdings in Insight Enterprises by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after acquiring an additional 164 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Insight Enterprises in the 1st quarter worth $89,000. Blue Trust Inc. grew its holdings in Insight Enterprises by 40.8% in the 2nd quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after acquiring an additional 154 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new stake in Insight Enterprises in the 2nd quarter worth $195,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSIT. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Barrington Research reissued an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th. Finally, StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insight Enterprises Trading Down 0.7 %

Shares of NSIT stock traded down $1.53 on Friday, hitting $209.14. 183,581 shares of the company’s stock traded hands, compared to its average volume of 221,825. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22. Insight Enterprises has a one year low of $139.34 and a one year high of $228.07. The company’s fifty day simple moving average is $212.29 and its 200 day simple moving average is $203.40. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 1.69 and a beta of 1.45.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, August 1st. The software maker reported $2.46 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.36). Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the business posted $2.56 EPS. Insight Enterprises’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Insight Enterprises will post 10.68 EPS for the current year.

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.