BlackRock Inc. increased its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,209,461 shares of the software maker’s stock after purchasing an additional 48,391 shares during the period. BlackRock Inc. owned 14.56% of Insight Enterprises worth $199,472,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of NSIT. First Trust Advisors LP raised its position in shares of Insight Enterprises by 17.8% during the 3rd quarter. First Trust Advisors LP now owns 50,865 shares of the software maker’s stock worth $2,336,000 after purchasing an additional 7,683 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Insight Enterprises during the 3rd quarter worth approximately $604,000. BNP Paribas Arbitrage SA raised its position in shares of Insight Enterprises by 24.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,180 shares of the software maker’s stock worth $973,000 after purchasing an additional 4,093 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Insight Enterprises in the 3rd quarter worth approximately $205,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in Insight Enterprises by 24.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 25,230 shares of the software maker’s stock worth $1,159,000 after acquiring an additional 4,960 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.
Several research firms have commented on NSIT. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, February 20th. BidaskClub raised shares of Insight Enterprises from a “strong sell” rating to a “sell” rating in a research note on Friday, February 16th. B. Riley reaffirmed a “buy” rating and issued a $53.00 target price (down from $56.00) on shares of Insight Enterprises in a research note on Tuesday, February 13th. Finally, ValuEngine cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.00.
Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) opened at $35.59 on Friday. Insight Enterprises, Inc. has a 12 month low of $32.10 and a 12 month high of $53.19. The stock has a market cap of $1,258.57, a price-to-earnings ratio of 14.24 and a beta of 1.41. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 0.35.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, February 14th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Insight Enterprises had a net margin of 1.35% and a return on equity of 14.73%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $0.72 EPS. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. sell-side analysts predict that Insight Enterprises, Inc. will post 3.96 earnings per share for the current fiscal year.
Insight Enterprises announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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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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