Short Interest in Insight Enterprises, Inc. (NASDAQ:NSIT) Rises By 36.9%

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,670,000 shares, a growth of 36.9% from the February 28th total of 1,220,000 shares. Based on an average daily volume of 410,300 shares, the short-interest ratio is currently 4.1 days. Approximately 5.3% of the company's stock are sold short.

Insight Enterprises Stock Down 4.5 %

NSIT stock traded down $6.16 during midday trading on Friday, hitting $130.83. The company's stock had a trading volume of 324,104 shares, compared to its average volume of 300,626. Insight Enterprises has a 12 month low of $128.02 and a 12 month high of $228.07. The firm's 50-day moving average is $159.90 and its 200-day moving average is $172.29. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.16 billion, a PE ratio of 20.02, a P/E/G ratio of 1.40 and a beta of 1.40.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, topping 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 earnings per share. On average, equities research analysts forecast that Insight Enterprises will post 9.89 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NSIT. Baron Wealth Management LLC increased its position in shares of Insight Enterprises by 3.8% during the 4th quarter. Baron Wealth Management LLC now owns 1,570 shares of the software maker's stock valued at $239,000 after purchasing an additional 58 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after buying an additional 63 shares during the last quarter. Quantinno Capital Management LP raised its position in Insight Enterprises by 2.0% in the third quarter. Quantinno Capital Management LP now owns 3,456 shares of the software maker's stock worth $744,000 after acquiring an additional 68 shares during the period. J.Safra Asset Management Corp boosted its stake in shares of Insight Enterprises by 40.8% during the 4th quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock worth $37,000 after acquiring an additional 71 shares during the last quarter. Finally, Cornerstone Investment Partners LLC grew its position in shares of Insight Enterprises by 5.8% during the 4th quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker's stock valued at $209,000 after acquiring an additional 75 shares during the period.

Analysts Set New Price Targets

Separately, Barrington Research reduced their price objective on Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $202.25.

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.