Wells Fargo & Company MN boosted its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 25.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 96,622 shares of the software maker’s stock after acquiring an additional 19,619 shares during the period. Wells Fargo & Company MN’s holdings in Insight Enterprises were worth $3,700,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the business. Boston Partners raised its position in Insight Enterprises by 11.5% in the 4th quarter. Boston Partners now owns 827,489 shares of the software maker’s stock worth $31,685,000 after buying an additional 85,410 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in Insight Enterprises by 3.2% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 645,502 shares of the software maker’s stock worth $24,716,000 after buying an additional 20,120 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Insight Enterprises by 0.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 434,154 shares of the software maker’s stock worth $16,624,000 after buying an additional 4,015 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Insight Enterprises by 3.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 292,779 shares of the software maker’s stock worth $11,211,000 after buying an additional 11,082 shares during the last quarter. Finally, New Amsterdam Partners LLC NY raised its position in Insight Enterprises by 36.5% in the 4th quarter. New Amsterdam Partners LLC NY now owns 145,383 shares of the software maker’s stock worth $5,567,000 after buying an additional 38,873 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.
NSIT has been the subject of a number of recent analyst reports. BidaskClub lowered Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. ValuEngine lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Wednesday, January 3rd. Finally, B. Riley reissued a “buy” rating and issued a $53.00 target price (down previously from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.
NASDAQ NSIT opened at $34.24 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 cap of $1,210.91, a PE ratio of 10.57 and a beta of 1.36. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, February 14th. The software maker reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Insight Enterprises had a net margin of 1.35% and a return on equity of 14.73%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. sell-side analysts forecast that Insight Enterprises, Inc. will post 3.96 EPS for the current fiscal year.
Insight Enterprises announced that its board has approved a stock buyback plan on Wednesday, February 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
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Insight Enterprises Company 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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