Insight Enterprises, Inc. (NASDAQ:NSIT) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,640,000 shares, a growth of 9.1% from the December 15th total of 2,420,000 shares. Approximately 7.6% of the company’s stock are short sold. Based on an average daily volume of 265,500 shares, the short-interest ratio is currently 9.9 days.
NSIT has been the subject of several recent research reports. ValuEngine cut Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. BidaskClub cut Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, B. Riley set a $79.00 target price on Insight Enterprises and gave the stock a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.25.
In other Insight Enterprises news, Director Kathleen S. Pushor bought 3,800 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $62.93 per share, for a total transaction of $239,134.00. Following the acquisition, the director now directly owns 3,311 shares of the company’s stock, valued at $208,361.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce Armstrong sold 3,523 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $66.13, for a total value of $232,975.99. 1.75% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NSIT. Nuveen Asset Management LLC bought a new stake in Insight Enterprises during the second quarter worth approximately $40,910,000. BlackRock Inc. lifted its holdings in shares of Insight Enterprises by 2.0% during the second quarter. BlackRock Inc. now owns 5,392,404 shares of the software maker’s stock worth $313,837,000 after buying an additional 106,813 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Insight Enterprises by 1,102.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 114,084 shares of the software maker’s stock worth $6,640,000 after buying an additional 104,594 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Insight Enterprises during the second quarter worth approximately $3,824,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Insight Enterprises during the third quarter worth approximately $2,226,000. 99.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Insight Enterprises stock opened at $70.94 on Wednesday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 15.32 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.60 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $68.41 and a two-hundred day moving average price of $58.97. Insight Enterprises has a 12-month low of $42.67 and a 12-month high of $73.22.
Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Wednesday, November 6th. The software maker reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Insight Enterprises had a return on equity of 17.21% and a net margin of 2.28%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that Insight Enterprises will post 5.46 earnings per share for the current year.
About Insight Enterprises
Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.
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