Insight Enterprises, Inc. (NASDAQ:NSIT) Short Interest Update

Insight Enterprises, Inc. (NASDAQ:NSIT) 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 trading volume, of 410,300 shares, the days-to-cover ratio is currently 4.1 days. Currently, 5.3% of the company’s shares are sold short.

Insight Enterprises Trading Down 2.0 %

NSIT traded down $2.99 during mid-day trading on Tuesday, hitting $147.00. 533,577 shares of the stock were exchanged, compared to its average volume of 297,226. The firm’s fifty day moving average is $161.14 and its two-hundred day moving average is $172.71. Insight Enterprises has a 1-year low of $145.20 and a 1-year high of $228.07. The company has a market cap of $4.67 billion, a PE ratio of 22.55, a PEG ratio of 1.40 and a beta of 1.40. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping 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 in the previous year, the firm earned $2.98 EPS. Equities analysts forecast that Insight Enterprises will post 9.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors have recently modified their holdings of the business. Cerity Partners LLC boosted its holdings in Insight Enterprises by 54.4% in the third quarter. Cerity Partners LLC now owns 2,813 shares of the software maker’s stock valued at $606,000 after purchasing an additional 991 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Insight Enterprises by 5.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,513 shares of the software maker’s stock valued at $541,000 after buying an additional 119 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Insight Enterprises by 0.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,091 shares of the software maker’s stock worth $12,943,000 after buying an additional 472 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Insight Enterprises by 6.9% during the third quarter. Rockefeller Capital Management L.P. now owns 62,927 shares of the software maker’s stock worth $13,554,000 after buying an additional 4,055 shares during the period. Finally, Needham Investment Management LLC acquired a new stake in Insight Enterprises in the third quarter valued at approximately $1,077,000.

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.