Insight Enterprises, Inc. (NASDAQ:NSIT) saw a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 2,420,000 shares, an increase of 5.7% from the November 14th total of 2,290,000 shares. Based on an average daily trading volume, of 283,100 shares, the days-to-cover ratio is currently 8.5 days. Approximately 6.9% of the company’s shares are sold short.
NSIT traded up $0.37 on Tuesday, hitting $71.67. The company had a trading volume of 189,100 shares, compared to its average volume of 219,875. Insight Enterprises has a 12-month low of $41.19 and a 12-month high of $72.00. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.47 and a current ratio of 1.60. The stock has a fifty day moving average price of $67.48 and a 200-day moving average price of $58.44.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. Insight Enterprises had a return on equity of 17.21% and a net margin of 2.28%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Analysts forecast that Insight Enterprises will post 5.46 EPS for the current fiscal year.
Several equities analysts have recently commented on NSIT shares. JPMorgan Chase & Co. started coverage on Insight Enterprises in a research note on Thursday, September 12th. They set an “overweight” rating and a $68.00 price target on the stock. ValuEngine lowered Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. BidaskClub upgraded Insight Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, B. Riley set a $79.00 target price on Insight Enterprises and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Insight Enterprises currently has a consensus rating of “Buy” and a consensus price target of $66.25.
In other news, Director Bruce Armstrong sold 3,523 shares of Insight Enterprises stock in a transaction on Monday, November 18th. The stock was sold at an average price of $66.13, for a total transaction of $232,975.99. Also, Director Kathleen S. Pushor bought 3,800 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $62.93 per share, with a total value of $239,134.00. Following the completion of the transaction, the director now owns 3,311 shares of the company’s stock, valued at approximately $208,361.23. The disclosure for this purchase can be found here. 1.75% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Insight Enterprises during the second quarter worth about $71,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Insight Enterprises during the third quarter worth about $163,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Insight Enterprises during the second quarter worth about $237,000. Lavaca Capital LLC acquired a new stake in shares of Insight Enterprises during the third quarter worth about $242,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Insight Enterprises during the second quarter worth about $285,000. Institutional investors and hedge funds own 99.05% of the company’s stock.
Insight Enterprises Company Profile
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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