Insight Enterprises, Inc. (NASDAQ:NSIT) Short Interest Down 20.2% in January

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 2,370,000 shares, a decline of 20.2% from the January 15th total of 2,970,000 shares. Approximately 7.6% of the company's shares are sold short. Based on an average trading volume of 418,200 shares, the days-to-cover ratio is presently 5.7 days.

Insight Enterprises Stock Down 0.5 %

Shares of NSIT traded down $0.91 during midday trading on Wednesday, reaching $167.06. The stock had a trading volume of 115,742 shares, compared to its average volume of 382,325. 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 company's fifty day simple moving average is $162.52 and its two-hundred day simple moving average is $182.62. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.40 and a beta of 1.42. Insight Enterprises has a 1-year low of $146.56 and a 1-year high of $228.07.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) 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 quarter in the prior year, the business posted $2.98 earnings per share. Equities research analysts expect that Insight Enterprises will post 9.89 earnings per share for the current year.

Hedge Funds Weigh In On Insight Enterprises

Several hedge funds have recently added to or reduced their stakes in NSIT. Golden State Wealth Management LLC purchased a new position in shares of Insight Enterprises during the fourth quarter worth about $32,000. R Squared Ltd acquired a new stake in shares of Insight Enterprises in the 4th quarter valued at about $33,000. J.Safra Asset Management Corp grew its stake in 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 buying an additional 71 shares during the last quarter. NewEdge Advisors LLC increased its position in Insight Enterprises by 32.8% during 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 during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Insight Enterprises by 287.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker's stock valued at $76,000 after acquiring an additional 374 shares during the period.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Redburn Atlantic initiated coverage on shares of Insight Enterprises in a research note on Friday, November 15th. They issued a "buy" rating and a $220.00 price objective for the company. Barrington Research lowered their target price on Insight Enterprises from $225.00 to $205.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $212.50.

About Insight Enterprises

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.