Convergence Investment Partners LLC Invests $271,000 in Insight Enterprises, Inc. (NASDAQ:NSIT)

Convergence Investment Partners LLC purchased a new position in Insight Enterprises, Inc. (NASDAQ:NSIT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,529 shares of the software maker’s stock, valued at approximately $271,000.

Several other institutional investors also recently bought and sold shares of NSIT. Vanguard Group Inc. lifted its holdings in shares of Insight Enterprises by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after buying an additional 245,814 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Insight Enterprises by 53.1% in the 4th quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock worth $126,194,000 after purchasing an additional 247,049 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Insight Enterprises by 3.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock valued at $112,577,000 after buying an additional 23,085 shares during the period. Bank of New York Mellon Corp increased its holdings in Insight Enterprises by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 309,407 shares of the software maker’s stock valued at $45,019,000 after buying an additional 21,953 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Insight Enterprises by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,061 shares of the software maker’s stock worth $41,040,000 after acquiring an additional 26,223 shares during the period.

Insider Buying and Selling at Insight Enterprises

In other news, Director Kathleen S. Pushor sold 1,790 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the transaction, the director now owns 5,800 shares of the company’s stock, valued at $1,073,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the transaction, the director now owns 30,647 shares in the company, valued at approximately $5,680,114.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen S. Pushor sold 1,790 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.12, for a total value of $331,364.80. Following the sale, the director now directly owns 5,800 shares in the company, valued at $1,073,696. The disclosure for this sale can be found here. Insiders sold a total of 20,918 shares of company stock valued at $3,888,203 in the last three months. 1.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on NSIT shares. StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. upped their price target on Insight Enterprises from $188.00 to $193.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Barrington Research reaffirmed an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th.

Insight Enterprises Stock Up 0.1 %

NSIT opened at $182.75 on Monday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.28. The firm’s fifty day moving average is $184.61 and its 200 day moving average is $173.53. Insight Enterprises, Inc. has a fifty-two week low of $117.99 and a fifty-two week high of $194.57.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, February 15th. The software maker reported $2.98 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.06). Insight Enterprises had a net margin of 3.07% and a return on equity of 20.64%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Insight Enterprises’s revenue was down 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Insight Enterprises, Inc. will post 10.59 earnings per share for the current fiscal year.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.