Insight Enterprises, Inc. (NASDAQ:NSIT) Short Interest Down 20.3% in October

Insight Enterprises, Inc. (NASDAQ:NSIT) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,610,000 shares, a decline of 20.3% from the September 30th total of 2,020,000 shares. Based on an average daily volume of 226,200 shares, the days-to-cover ratio is currently 7.1 days. Approximately 5.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the sale, the insider now owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Insight Enterprises

A number of large investors have recently bought and sold shares of NSIT. Opal Wealth Advisors LLC acquired a new stake in Insight Enterprises during the 2nd quarter valued at $38,000. EntryPoint Capital LLC acquired a new stake in shares of Insight Enterprises during the first quarter worth $89,000. GAMMA Investing LLC boosted its holdings in shares of Insight Enterprises by 56.9% during the second quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after purchasing an additional 164 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Insight Enterprises by 40.8% during the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after purchasing an additional 154 shares during the last quarter. Finally, First Foundation Advisors acquired a new stake in shares of Insight Enterprises during the first quarter worth $195,000.

Insight Enterprises Stock Performance

Shares of NSIT stock traded down $2.31 during trading hours on Monday, reaching $206.83. 220,081 shares of the company’s stock were exchanged, compared to its average volume of 221,816. The company has a market cap of $6.74 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. The company’s 50 day moving average is $212.29 and its two-hundred day moving average is $203.55. Insight Enterprises has a 1 year low of $139.34 and a 1 year high of $228.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.22 and a quick ratio of 1.19.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $2.46 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.47 billion. During the same period in the previous year, the business earned $2.56 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts anticipate that Insight Enterprises will post 10.68 EPS for the current fiscal 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.