California State Teachers Retirement System lowered its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 9.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,052 shares of the software maker’s stock after selling 6,051 shares during the quarter. California State Teachers Retirement System owned 0.16% of Insight Enterprises worth $2,620,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of NSIT. Bank of New York Mellon Corp grew its stake in shares of Insight Enterprises by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 599,491 shares of the software maker’s stock valued at $23,974,000 after buying an additional 6,948 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after buying an additional 385 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Insight Enterprises in the second quarter valued at $1,389,000. Principal Financial Group Inc. grew its stake in shares of Insight Enterprises by 1.8% in the second quarter. Principal Financial Group Inc. now owns 287,630 shares of the software maker’s stock valued at $11,502,000 after buying an additional 4,991 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Insight Enterprises by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 1,052,433 shares of the software maker’s stock valued at $42,087,000 after buying an additional 97,342 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday. BidaskClub cut Insight Enterprises from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. ValuEngine cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, B. Riley reaffirmed a “buy” rating and issued a $56.00 price objective (up from $54.50) on shares of Insight Enterprises in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.00.
Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) opened at $38.61 on Friday. Insight Enterprises, Inc. has a one year low of $35.26 and a one year high of $53.19. The company has a quick ratio of 1.59, a current ratio of 1.84 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1,380.00, a price-to-earnings ratio of 14.30 and a beta of 1.56.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.05. Insight Enterprises had a return on equity of 14.90% and a net margin of 1.53%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. sell-side analysts predict that Insight Enterprises, Inc. will post 3.22 EPS for the current fiscal year.
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About Insight Enterprises
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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