Public Employees Retirement System of Ohio lowered its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,051 shares of the software maker’s stock after selling 3,135 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of Insight Enterprises worth $1,324,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. purchased a new stake in shares of Insight Enterprises during the 2nd quarter worth approximately $108,000. Meeder Asset Management Inc. increased its stake in shares of Insight Enterprises by 7,465.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,253 shares of the software maker’s stock worth $159,000 after purchasing an additional 3,210 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Insight Enterprises during the 2nd quarter worth approximately $204,000. CIBC Asset Management Inc purchased a new stake in shares of Insight Enterprises during the 2nd quarter worth approximately $218,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Insight Enterprises during the 2nd quarter worth approximately $219,000. Institutional investors own 95.05% of the company’s stock.
Several equities research analysts have recently issued reports on NSIT shares. BidaskClub lowered shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, July 25th. Finally, B. Riley lifted their price objective on shares of Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd.
Insight Enterprises stock opened at $49.09 on Friday. Insight Enterprises, Inc. has a 1-year low of $32.10 and a 1-year high of $56.86. The company has a market capitalization of $1.92 billion, a P/E ratio of 15.15 and a beta of 1.28. The company has a quick ratio of 1.28, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, August 1st. The software maker reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $1.14 EPS. Insight Enterprises’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Insight Enterprises, Inc. will post 4.54 EPS for the current year.
In related news, insider Samuel C. Cowley sold 6,000 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $53.06, for a total value of $318,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven W. Dodenhoff sold 4,827 shares of Insight Enterprises 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 transaction, the insider now owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The disclosure for this sale can be found here. Insiders sold a total of 15,827 shares of company stock valued at $859,173 over the last quarter. 1.77% of the stock is owned by company insiders.
Insight Enterprises Company 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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