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

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 1,610,000 shares, a drop 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 days-to-cover ratio is currently 7.1 days.

Insider Activity

In related news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction 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 transaction, the insider now owns 5,460 shares in the company, valued at $1,124,923.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NSIT. Guidance Capital Inc. acquired a new stake in Insight Enterprises in the 1st quarter valued at approximately $434,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Insight Enterprises by 21.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 32,230 shares of the software maker's stock valued at $5,979,000 after purchasing an additional 5,593 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Insight Enterprises by 36.5% in the first quarter. Van ECK Associates Corp now owns 11,658 shares of the software maker's stock worth $2,163,000 after purchasing an additional 3,118 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Insight Enterprises by 22.9% during the first quarter. BNP Paribas Financial Markets now owns 37,925 shares of the software maker's stock worth $7,036,000 after purchasing an additional 7,067 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Insight Enterprises in the first quarter valued at $431,000.

Analysts Set New Price Targets

Several research firms recently commented on NSIT. StockNews.com downgraded Insight Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, July 5th. Stifel Nicolaus lifted their price objective on Insight Enterprises from $192.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their target price 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. Finally, Barrington Research reissued an "outperform" rating and set a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th.

Insight Enterprises Trading Down 0.7 %

NSIT traded down $1.53 during midday trading on Friday, reaching $209.14. 183,581 shares of the company were exchanged, compared to its average volume of 221,825. The stock has a market capitalization of $6.81 billion, a P/E ratio of 26.31, a PEG 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 stock's 50-day simple moving average is $212.29 and its 200 day simple moving average is $203.55. 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 (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $2.46 EPS for the quarter, missing analysts' consensus estimates of $2.82 by ($0.36). Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned $2.56 EPS. Insight Enterprises's quarterly revenue was down 8.0% on a year-over-year basis. As a group, analysts forecast that Insight Enterprises will post 10.68 earnings per share for the current fiscal 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.