Prudential Financial Inc. increased its holdings in shares of Insight Enterprises (NASDAQ:NSIT) by 2.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 341,318 shares of the software maker’s stock after acquiring an additional 6,537 shares during the period. Prudential Financial Inc. owned approximately 0.95% of Insight Enterprises worth $11,923,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of NSIT. Schwab Charles Investment Management Inc. grew its position in shares of Insight Enterprises by 0.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 434,154 shares of the software maker’s stock valued at $16,624,000 after acquiring an additional 4,015 shares during the period. Strs Ohio grew its position in shares of Insight Enterprises by 9.6% during the 4th quarter. Strs Ohio now owns 26,300 shares of the software maker’s stock valued at $1,007,000 after acquiring an additional 2,300 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Insight Enterprises during the 4th quarter valued at about $4,222,000. Wedge Capital Management L L P NC grew its position in shares of Insight Enterprises by 3.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 292,779 shares of the software maker’s stock valued at $11,211,000 after acquiring an additional 11,082 shares during the period. Finally, Boston Partners grew its position in shares of Insight Enterprises by 11.5% during the 4th quarter. Boston Partners now owns 827,489 shares of the software maker’s stock valued at $31,685,000 after acquiring an additional 85,410 shares during the period. Hedge funds and other institutional investors own 97.07% of the company’s stock.
NSIT stock opened at $46.94 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.44 and a current ratio of 1.58. Insight Enterprises has a 12-month low of $32.10 and a 12-month high of $47.95. The stock has a market capitalization of $1.64 billion, a P/E ratio of 12.76 and a beta of 1.39.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Wednesday, May 2nd. The software maker reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.34. Insight Enterprises had a return on equity of 15.75% and a net margin of 1.57%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted $0.38 EPS. Insight Enterprises’s revenue was up 19.3% compared to the same quarter last year. analysts expect that Insight Enterprises will post 4.38 earnings per share for the current year.
Insight Enterprises announced that its board has initiated a stock buyback program on Wednesday, February 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, CFO Glynis Bryan sold 3,700 shares of Insight Enterprises stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $44.03, for a total value of $162,911.00. Following the sale, the chief financial officer now directly owns 45,183 shares in the company, valued at approximately $1,989,407.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wolfgang Ebermann sold 22,686 shares of Insight Enterprises stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $46.55, for a total value of $1,056,033.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,731 shares of company stock worth $2,420,178. 1.77% of the stock is currently owned by insiders.
A number of research firms have recently commented on NSIT. BidaskClub upgraded Insight Enterprises from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Saturday, May 5th. ValuEngine cut Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, B. Riley restated 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.00.
Insight Enterprises Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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