Insight Enterprises, Inc. (NASDAQ:NSIT) Sees Significant Decrease in Short Interest

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,220,000 shares, a decline of 31.1% from the February 13th total of 1,770,000 shares. Currently, 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 395,600 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On Insight Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in NSIT. Massachusetts Financial Services Co. MA purchased a new stake in shares of Insight Enterprises during the 4th quarter valued at about $57,380,000. Norges Bank purchased a new stake in Insight Enterprises in the 4th quarter worth approximately $47,585,000. Hennessy Advisors Inc. purchased a new stake in Insight Enterprises in the 4th quarter worth approximately $39,242,000. Pacer Advisors Inc. increased its holdings in Insight Enterprises by 26.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock worth $163,243,000 after acquiring an additional 225,283 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Insight Enterprises by 65.7% in the 4th quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock worth $41,188,000 after acquiring an additional 107,397 shares in the last quarter.

Insight Enterprises Stock Performance

Shares of NASDAQ NSIT traded down $1.86 during midday trading on Thursday, hitting $154.58. 268,850 shares of the company's stock traded hands, compared to its average volume of 279,828. Insight Enterprises has a 1 year low of $146.56 and a 1 year high of $228.07. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. The firm has a fifty day moving average of $162.89 and a 200 day moving average of $176.05.

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Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same quarter last year, the company posted $2.98 earnings per share. On average, analysts forecast that Insight Enterprises will post 9.89 earnings per share for the current year.

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.