Piermont Capital Management Inc. trimmed its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 20.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,476 shares of the software maker’s stock after selling 21,629 shares during the quarter. Insight Enterprises makes up about 1.0% of Piermont Capital Management Inc.’s holdings, making the stock its 10th biggest position. Piermont Capital Management Inc. owned 0.24% of Insight Enterprises worth $3,378,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Gotham Asset Management LLC acquired a new position in shares of Insight Enterprises in the 1st quarter valued at $1,562,000. Vanguard Group Inc. increased its holdings in shares of Insight Enterprises by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after acquiring an additional 144,077 shares during the period. KBC Group NV increased its holdings in shares of Insight Enterprises by 40.5% in the 2nd quarter. KBC Group NV now owns 34,263 shares of the software maker’s stock valued at $1,370,000 after acquiring an additional 9,876 shares during the period. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Insight Enterprises by 172.4% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 84,174 shares of the software maker’s stock valued at $3,457,000 after acquiring an additional 53,278 shares during the period. Finally, Vident Investment Advisory LLC acquired a new position in shares of Insight Enterprises in the 1st quarter valued at $1,903,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.
NSIT has been the topic of a number of recent research reports. BidaskClub cut shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research cut shares of Insight Enterprises from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price (up from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Finally, B. Riley raised shares of Insight Enterprises from a “neutral” rating to a “buy” rating and lifted their target price for the company from $48.00 to $54.50 in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.50.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $41.90, for a total value of $209,500.00. Following the sale, the chief financial officer now directly owns 30,797 shares of the company’s stock, valued at $1,290,394.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.38% of the stock is owned by company insiders.
Insight Enterprises, Inc. (NSIT) traded up 2.59% during trading on Friday, reaching $42.83. 132,064 shares of the company were exchanged. The stock has a market capitalization of $1.53 billion, a PE ratio of 15.91 and a beta of 1.63. The firm’s 50 day moving average is $40.62 and its 200 day moving average is $41.62. Insight Enterprises, Inc. has a 52-week low of $28.15 and a 52-week high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts expect that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
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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