Ameriprise Financial Inc. lifted its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 22.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 256,079 shares of the software maker’s stock after purchasing an additional 46,711 shares during the quarter. Ameriprise Financial Inc. owned 0.72% of Insight Enterprises worth $10,240,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. 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 worth $103,000 after purchasing an additional 385 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Insight Enterprises in the first quarter worth $123,000. Invictus RG bought a new position in shares of Insight Enterprises in the first quarter worth $199,000. State of Alaska Department of Revenue grew its stake in shares of Insight Enterprises by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 7,057 shares of the software maker’s stock worth $282,000 after purchasing an additional 3,137 shares in the last quarter. Finally, Pacad Investment Ltd. grew its stake in shares of Insight Enterprises by 16.9% in the second quarter. Pacad Investment Ltd. now owns 7,600 shares of the software maker’s stock worth $304,000 after purchasing an additional 1,100 shares in the last quarter. 97.02% of the stock is owned by institutional investors.
Shares of Insight Enterprises, Inc. (NSIT) opened at 45.30 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 16.83 and a beta of 1.67. The stock has a 50 day moving average price of $42.20 and a 200 day moving average price of $41.91. Insight Enterprises, Inc. has a one year low of $28.15 and a one year high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.19. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. On average, equities research analysts forecast that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
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Several research analysts have recently issued reports on the company. Zacks Investment Research cut Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. B. Riley raised Insight Enterprises to a “buy” rating and set a $54.50 price target for the company in a research note on Tuesday, August 8th. Finally, BidaskClub cut Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Insight Enterprises has an average rating of “Hold” and a consensus target price of $50.50.
In other news, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises 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 completion of the sale, the chief financial officer now directly owns 30,797 shares of the company’s stock, valued at approximately $1,290,394.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is currently owned by company insiders.
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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