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

Insight Enterprises, Inc. (NASDAQ:NSIT) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 1,353,194 shares, a growth of 21.7% from the December 31st total of 1,111,891 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average trading volume of 386,605 shares, the short-interest ratio is currently 3.5 days. Based on an average trading volume of 386,605 shares, the short-interest ratio is currently 3.5 days. Approximately 4.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in NSIT. MTM Investment Management LLC acquired a new stake in shares of Insight Enterprises in the 2nd quarter valued at $55,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Insight Enterprises in the third quarter valued at about $48,000. CWM LLC boosted its position in Insight Enterprises by 39.2% in the fourth quarter. CWM LLC now owns 529 shares of the software maker’s stock valued at $43,000 after buying an additional 149 shares in the last quarter. Torren Management LLC bought a new stake in Insight Enterprises during the fourth quarter worth about $44,000. Finally, Covestor Ltd increased its holdings in shares of Insight Enterprises by 24.3% during the third quarter. Covestor Ltd now owns 665 shares of the software maker’s stock worth $75,000 after buying an additional 130 shares in the last quarter.

Insight Enterprises Stock Up 3.3%

Shares of Insight Enterprises stock opened at $81.65 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.30 and a quick ratio of 1.27. Insight Enterprises has a 1-year low of $77.10 and a 1-year high of $181.92. The business’s fifty day moving average price is $83.51 and its two-hundred day moving average price is $104.04. The company has a market capitalization of $2.53 billion, a P/E ratio of 19.03, a PEG ratio of 0.38 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NSIT shares. Wall Street Zen raised Insight Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings downgraded shares of Insight Enterprises from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 5th. Barrington Research reissued an “outperform” rating and issued a $120.00 target price on shares of Insight Enterprises in a research report on Tuesday, January 27th. Canaccord Genuity Group assumed coverage on shares of Insight Enterprises in a research note on Wednesday, November 19th. They issued a “hold” rating and a $100.00 target price on the stock. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $90.00 price target (down from $117.00) on shares of Insight Enterprises in a research note on Monday, December 15th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $103.33.

About Insight Enterprises

Insight Enterprises, Inc is a global technology provider headquartered in Tempe, Arizona. Founded in 1988, the company specializes in helping organizations harness the power of digital transformation by offering a comprehensive portfolio of IT hardware, software, cloud and licensing management solutions. Insight’s expertise spans across the full technology lifecycle, from initial strategy and consulting to implementation, integration and ongoing managed services.

At the core of Insight’s business are its consulting and professional services, which guide clients through complex technology environments and ensure optimal deployment of solutions.