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

Insight Enterprises, Inc. (NASDAQ:NSIT) was the recipient of a significant decrease in short interest in the month of 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. Currently, 5.0% of the company’s stock are sold short. Based on an average daily volume of 226,200 shares, the short-interest ratio is presently 7.1 days.

Insider Transactions at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now directly owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Insight Enterprises during the 2nd quarter valued at approximately $38,000. GAMMA Investing LLC lifted its stake in shares of Insight Enterprises by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock valued at $90,000 after buying an additional 164 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Insight Enterprises during the 1st quarter valued at approximately $89,000. Blue Trust Inc. lifted its stake in shares of Insight Enterprises by 40.8% during the 2nd quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock valued at $99,000 after buying an additional 154 shares in the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in shares of Insight Enterprises during the 2nd quarter valued at approximately $195,000.

Insight Enterprises Stock Down 0.7 %

NSIT stock traded down $1.53 during trading on Friday, reaching $209.14. The stock had a trading volume of 183,581 shares, compared to its average volume of 221,825. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. The company 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 has a one year low of $139.34 and a one year high of $228.07. The company’s 50 day moving average is $212.29 and its two-hundred day moving average is $203.40.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Equities research analysts forecast that Insight Enterprises will post 10.68 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NSIT shares. Stifel Nicolaus boosted their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a research report on Friday, September 20th. Finally, StockNews.com downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th.

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.