Eagle Asset Management Inc. trimmed its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 22.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,516 shares of the software maker’s stock after selling 36,539 shares during the period. Eagle Asset Management Inc. owned about 0.35% of Insight Enterprises worth $4,767,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at approximately $156,000. CIBC Asset Management Inc acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at approximately $205,000. Eqis Capital Management Inc. acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at approximately $211,000. Amalgamated Bank acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at approximately $223,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at approximately $333,000. 94.90% of the stock is currently owned by institutional investors.
Insight Enterprises, Inc. (NSIT) opened at $35.56 on Friday. Insight Enterprises, Inc. has a 52-week low of $32.10 and a 52-week high of $53.19. The stock has a market capitalization of $1,259.89, a P/E ratio of 10.86 and a beta of 1.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.38.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, February 14th. The software maker reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. Insight Enterprises had a return on equity of 14.73% and a net margin of 1.35%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 21.6% on a year-over-year basis. equities research analysts anticipate that Insight Enterprises, Inc. will post 3.96 earnings per share for the current year.
Insight Enterprises announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
A number of brokerages have issued reports on NSIT. B. Riley reaffirmed a “buy” rating and issued a $53.00 target price (down from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. BidaskClub raised Insight Enterprises from a “strong sell” rating to a “sell” rating in a research report on Friday, February 16th. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday. Finally, ValuEngine lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $46.00.
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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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