Janney Montgomery Scott LLC bought a new position in Insight Enterprises, Inc. (NASDAQ:NSIT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,083 shares of the software maker’s stock, valued at approximately $339,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cascade Investment Advisors Inc. bought a new position in shares of Insight Enterprises during the second quarter worth about $29,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Insight Enterprises in the second quarter valued at approximately $71,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $163,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Insight Enterprises during the second quarter valued at approximately $237,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Insight Enterprises during the second quarter valued at approximately $285,000. Institutional investors and hedge funds own 99.05% of the company’s stock.
In other Insight Enterprises news, Director Bruce Armstrong sold 3,523 shares of Insight Enterprises stock in a transaction on Monday, November 18th. The shares were sold at an average price of $66.13, for a total transaction of $232,975.99. Also, Director Kathleen S. Pushor acquired 3,800 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $62.93 per share, with a total value of $239,134.00. Following the completion of the acquisition, 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. Company insiders own 1.75% of the company’s stock.
A number of equities analysts recently issued reports on NSIT shares. ValuEngine lowered Insight Enterprises from a “hold” rating to a “sell” rating in a report on Friday, November 8th. B. Riley set a $79.00 price target on Insight Enterprises and gave the stock a “buy” rating in a research note on Monday, October 21st. BidaskClub upgraded shares of Insight Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Insight Enterprises in a research report on Thursday, September 12th. They issued an “overweight” rating and a $68.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.25.
Shares of NSIT traded down $0.62 during midday trading on Monday, reaching $65.37. The stock had a trading volume of 220,845 shares, compared to its average volume of 234,088. The firm’s 50 day moving average price is $63.39 and its 200-day moving average price is $56.22. The company has a market capitalization of $2.33 billion, a P/E ratio of 14.12 and a beta of 1.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.60 and a quick ratio of 1.47. Insight Enterprises, Inc. has a 52 week low of $37.77 and a 52 week high of $66.91.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, November 6th. The software maker reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Insight Enterprises had a net margin of 2.28% and a return on equity of 17.21%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Insight Enterprises, Inc. will post 5.46 earnings per share for the current year.
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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