Goldman Sachs Group Inc. lowered its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 18.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 85,415 shares of the software maker’s stock after selling 18,756 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Insight Enterprises worth $3,415,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Insight Enterprises by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $103,000 after acquiring an additional 385 shares in the last quarter. Bayesian Capital Management LP lifted its stake in Insight Enterprises by 21.6% in the 2nd quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock valued at $257,000 after purchasing an additional 1,143 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Insight Enterprises during the second quarter valued at $273,000. State of Alaska Department of Revenue raised its stake in shares of Insight Enterprises by 80.0% during the second quarter. State of Alaska Department of Revenue now owns 7,057 shares of the software maker’s stock valued at $282,000 after acquiring an additional 3,137 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Insight Enterprises during the first quarter valued at $311,000. Institutional investors and hedge funds own 96.05% of the company’s stock.
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In other news, CFO Glynis Bryan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $41.90, for a total value of $209,500.00. Following the sale, the chief financial officer now owns 30,797 shares of the company’s stock, valued at $1,290,394.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.38% of the company’s stock.
NSIT has been the subject of several analyst reports. B. Riley raised shares of Insight Enterprises from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $54.50 in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Saturday, August 5th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective (up from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Finally, BidaskClub cut 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.
Insight Enterprises, Inc. (NASDAQ NSIT) traded down $1.88 on Friday, hitting $38.67. 179,400 shares of the company were exchanged, compared to its average volume of 200,524. The company has a market capitalization of $1,451.38, a price-to-earnings ratio of 12.87 and a beta of 1.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.84 and a quick ratio of 1.24. Insight Enterprises, Inc. has a one year low of $31.03 and a one year high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. Insight Enterprises had a net margin of 1.53% and a return on equity of 14.90%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. analysts predict that Insight Enterprises, Inc. will post 3.22 earnings per share for the current 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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