Municipal Employees Retirement System of Michigan trimmed its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 48.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,770 shares of the software maker’s stock after selling 9,970 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Insight Enterprises were worth $600,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cascade Investment Advisors Inc. acquired a new stake in Insight Enterprises in the second quarter valued at $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Insight Enterprises in the second quarter valued at $71,000. Robeco Institutional Asset Management B.V. acquired a new stake in Insight Enterprises in the third quarter valued at $163,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Insight Enterprises in the second quarter valued at $237,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Insight Enterprises in the second quarter valued at $285,000. Institutional investors own 98.69% of the company’s stock.
Shares of Insight Enterprises stock opened at $64.68 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.47 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $59.02 and a two-hundred day moving average price of $55.07. Insight Enterprises, Inc. has a 1-year low of $37.77 and a 1-year high of $66.47. The company has a market cap of $2.24 billion, a P/E ratio of 13.97 and a beta of 1.21.
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. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.99 billion. Insight Enterprises had a return on equity of 17.21% and a net margin of 2.28%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. Equities research analysts forecast that Insight Enterprises, Inc. will post 5.46 EPS for the current fiscal year.
NSIT has been the subject of a number of recent research reports. ValuEngine downgraded Insight Enterprises from a “hold” rating to a “sell” rating in a report on Friday, November 8th. BidaskClub upgraded Insight Enterprises from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. assumed coverage on Insight Enterprises in a report on Thursday, September 12th. They set an “overweight” rating and a $68.00 price target for the company. B. Riley set a $79.00 price target on Insight Enterprises and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $66.25.
In other news, Director Kathleen S. Pushor bought 3,800 shares of Insight Enterprises stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $62.93 per share, for a total transaction of $239,134.00. Following the purchase, the director now directly owns 3,311 shares in the company, valued at approximately $208,361.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.75% of the company’s stock.
Insight Enterprises 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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