Insight Enterprises, Inc. (NASDAQ:NSIT) Short Interest Up 21.7% in January

Insight Enterprises, Inc. (NASDAQ:NSIT) was the target of 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. Based on an average daily trading volume, of 386,605 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.4% of the company’s stock are short sold. Approximately 4.4% of the company’s stock are short sold. Based on an average daily trading volume, of 386,605 shares, the days-to-cover ratio is currently 3.5 days.

Insight Enterprises Trading Up 3.6%

NASDAQ:NSIT traded up $2.86 during trading hours on Wednesday, reaching $81.92. The company’s stock had a trading volume of 350,949 shares, compared to its average volume of 410,509. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.40 and a beta of 0.93. Insight Enterprises has a 1 year low of $77.10 and a 1 year high of $181.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.27 and a current ratio of 1.30. The firm has a 50-day simple moving average of $83.61 and a 200-day simple moving average of $104.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NSIT shares. Wall Street Zen upgraded Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings cut shares of Insight Enterprises from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 5th. Barrington Research reissued an “outperform” rating and set a $120.00 target price on shares of Insight Enterprises in a research report on Tuesday, January 27th. Canaccord Genuity Group assumed coverage on Insight Enterprises in a report on Wednesday, November 19th. They issued a “hold” rating and a $100.00 target price for the company. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $90.00 target price (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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $103.33.

Institutional Investors Weigh In On Insight Enterprises

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Insight Enterprises by 39.2% in the 4th quarter. CWM LLC now owns 529 shares of the software maker’s stock worth $43,000 after purchasing an additional 149 shares during the period. Torren Management LLC acquired a new position in shares of Insight Enterprises in the fourth quarter valued at about $44,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Insight Enterprises during the 3rd quarter valued at approximately $48,000. MTM Investment Management LLC purchased a new stake in Insight Enterprises in the second quarter valued at $55,000. Finally, Covestor Ltd raised its position in Insight Enterprises by 24.3% during the third quarter. Covestor Ltd now owns 665 shares of the software maker’s stock valued at $75,000 after acquiring an additional 130 shares in the last quarter.

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.