Rhumbline Advisers increased its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,323 shares of the software maker’s stock after acquiring an additional 11,539 shares during the period. Rhumbline Advisers owned about 0.24% of Insight Enterprises worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of Insight Enterprises during the third quarter worth $156,000. CIBC Asset Management Inc purchased a new stake in shares of Insight Enterprises during the third quarter worth $205,000. Amalgamated Bank purchased a new stake in shares of Insight Enterprises during the third quarter worth $223,000. Highbridge Capital Management LLC purchased a new stake in shares of Insight Enterprises during the third quarter worth $333,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Insight Enterprises during the fourth quarter worth $471,000. Institutional investors and hedge funds own 98.95% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, January 3rd. ValuEngine downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. B. Riley reissued a “buy” rating and set a $53.00 target price (down from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. Finally, BidaskClub raised shares of Insight Enterprises from a “strong sell” rating to a “sell” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.00.
Insight Enterprises stock traded down $0.92 during mid-day trading on Friday, hitting $33.32. 206,516 shares of the company’s stock were exchanged, compared to its average volume of 213,253. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.38. The company has a market capitalization of $1,227.04, a price-to-earnings ratio of 10.28 and a beta of 1.36. Insight Enterprises, Inc. has a 1-year low of $32.10 and a 1-year high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, February 14th. The software maker reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.71 billion. Insight Enterprises had a net margin of 1.35% and a return on equity of 14.73%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. sell-side 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 initiated a stock buyback plan on Wednesday, February 14th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is 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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