Smith Asset Management Group LP increased its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 44,710 shares of the software maker’s stock after acquiring an additional 1,680 shares during the quarter. Smith Asset Management Group LP’s holdings in Insight Enterprises were worth $2,418,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NSIT. Xact Kapitalforvaltning AB acquired a new position in shares of Insight Enterprises during the first quarter worth $287,000. Principal Financial Group Inc. grew its stake in shares of Insight Enterprises by 2.4% during the first quarter. Principal Financial Group Inc. now owns 282,784 shares of the software maker’s stock worth $9,878,000 after purchasing an additional 6,535 shares in the last quarter. Alpha Windward LLC acquired a new position in shares of Insight Enterprises during the second quarter worth $543,000. Amalgamated Bank acquired a new position in shares of Insight Enterprises during the second quarter worth $263,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Insight Enterprises during the second quarter worth $294,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.
In related news, Director Anthony Ibarguen sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $53.55, for a total value of $267,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven W. Dodenhoff sold 4,827 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $56.57, for a total transaction of $273,063.39. Following the completion of the sale, the insider now directly owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,827 shares of company stock valued at $859,173. 1.77% of the stock is owned by corporate insiders.
NSIT has been the subject of a number of analyst reports. BidaskClub downgraded shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, July 25th. Finally, B. Riley boosted their price target on shares of Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd.
Shares of NSIT opened at $43.82 on Wednesday. Insight Enterprises, Inc. has a 1-year low of $32.10 and a 1-year high of $56.86. The firm has a market capitalization of $1.84 billion, a P/E ratio of 13.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.28.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.73 earnings per share. Insight Enterprises’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Insight Enterprises, Inc. will post 4.54 earnings per share for the current fiscal year.
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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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