Piermont Capital Management Inc. lessened its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 7.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,920 shares of the software maker’s stock after selling 4,710 shares during the quarter. Insight Enterprises comprises about 1.2% of Piermont Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Piermont Capital Management Inc. owned about 0.16% of Insight Enterprises worth $3,079,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Insight Enterprises by 1.3% during the second quarter. BlackRock Inc. now owns 4,951,035 shares of the software maker’s stock worth $242,253,000 after purchasing an additional 61,682 shares in the last quarter. Northern Trust Corp lifted its position in shares of Insight Enterprises by 2.3% during the second quarter. Northern Trust Corp now owns 1,581,099 shares of the software maker’s stock worth $77,362,000 after purchasing an additional 35,657 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Insight Enterprises by 7.7% during the third quarter. Frontier Capital Management Co. LLC now owns 973,870 shares of the software maker’s stock worth $52,677,000 after purchasing an additional 69,222 shares in the last quarter. Boston Partners lifted its position in shares of Insight Enterprises by 3.3% during the second quarter. Boston Partners now owns 966,531 shares of the software maker’s stock worth $47,292,000 after purchasing an additional 30,598 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new stake in shares of Insight Enterprises during the second quarter worth about $32,989,000. 95.83% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on NSIT shares. B. Riley increased their price target on shares of Insight Enterprises from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Wednesday, July 25th. BidaskClub cut shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Finally, ValuEngine cut shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday.
In related news, Director Anthony Ibarguen sold 5,000 shares of the firm’s stock in a transaction that occurred 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 SEC, which is accessible through the SEC website. Also, insider Steven W. Dodenhoff sold 4,827 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,652,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,827 shares of company stock worth $859,173. 1.77% of the stock is owned by corporate insiders.
Shares of NASDAQ:NSIT opened at $46.54 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of 14.36 and a beta of 1.19. Insight Enterprises, Inc. has a fifty-two week low of $32.10 and a fifty-two week high of $56.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.28 and a current ratio of 1.65.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, November 7th. The software maker reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.09). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.84 billion. Insight Enterprises had a net margin of 1.83% and a return on equity of 16.60%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. As a group, analysts predict that Insight Enterprises, Inc. will post 4.42 earnings per share for the current fiscal year.
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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