Wells Fargo & Company MN increased its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 60.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,392 shares of the software maker’s stock after acquiring an additional 32,976 shares during the quarter. Wells Fargo & Company MN owned about 0.24% of Insight Enterprises worth $3,494,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Prudential Financial Inc. increased its holdings in Insight Enterprises by 4.7% in the 2nd quarter. Prudential Financial Inc. now owns 319,499 shares of the software maker’s stock valued at $12,777,000 after buying an additional 14,377 shares during the period. Gotham Asset Management LLC bought a new stake in Insight Enterprises in the 1st quarter valued at $1,562,000. LSV Asset Management increased its holdings in Insight Enterprises by 2.8% in the 2nd quarter. LSV Asset Management now owns 1,222,100 shares of the software maker’s stock valued at $48,871,000 after buying an additional 33,823 shares during the period. Vanguard Group Inc. increased its holdings in Insight Enterprises by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after buying an additional 144,077 shares during the period. Finally, KBC Group NV increased its holdings in Insight Enterprises by 40.5% in the 2nd quarter. KBC Group NV now owns 34,263 shares of the software maker’s stock valued at $1,370,000 after buying an additional 9,876 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Glynis Bryan sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $41.90, for a total value of $209,500.00. Following the transaction, the chief financial officer now owns 30,797 shares in the company, valued at $1,290,394.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.38% of the stock is currently owned by company insiders.
NSIT has been the topic of several analyst reports. B. Riley raised shares of Insight Enterprises from a “neutral” rating to a “buy” rating and boosted their price target for the company from $48.00 to $54.50 in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Saturday, August 5th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.50.
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Shares of Insight Enterprises, Inc. (NSIT) opened at 44.67 on Friday. The stock has a 50 day moving average of $43.55 and a 200 day moving average of $42.16. The firm has a market cap of $1.60 billion, a P/E ratio of 16.59 and a beta of 1.67. Insight Enterprises, Inc. has a 52 week low of $28.15 and a 52 week high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $0.97 earnings per share. Insight Enterprises’s revenue was up 15.4% on a year-over-year basis. Analysts anticipate that Insight Enterprises, Inc. will post $3.23 earnings per share for the current fiscal year.
Insight Enterprises Profile
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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