Sterling Capital Management LLC purchased a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,588 shares of the software maker’s stock, valued at approximately $1,114,000. Sterling Capital Management LLC owned 0.06% of Insight Enterprises at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of Insight Enterprises in the second quarter valued at approximately $108,000. Meeder Asset Management Inc. boosted its stake in shares of Insight Enterprises by 7,465.1% in the second quarter. Meeder Asset Management Inc. now owns 3,253 shares of the software maker’s stock valued at $159,000 after buying an additional 3,210 shares during the period. Paloma Partners Management Co bought a new stake in shares of Insight Enterprises in the second quarter valued at approximately $204,000. CIBC Asset Management Inc bought a new stake in shares of Insight Enterprises in the second quarter valued at approximately $218,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Insight Enterprises in the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
NSIT has been the subject of several recent research reports. B. Riley boosted their price target on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine downgraded shares of Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub downgraded shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Wednesday, July 25th.
Shares of NSIT opened at $46.54 on Friday. Insight Enterprises, Inc. has a one year low of $32.10 and a one year high of $56.86. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 10.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.65 and a quick ratio of 1.28.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.91 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.09). Insight Enterprises had a net margin of 1.83% and a return on equity of 16.60%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Insight Enterprises, Inc. will post 4.42 earnings per share for the current fiscal year.
In other news, insider Samuel C. Cowley sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $53.06, for a total transaction of $318,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Ibarguen sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total transaction of $267,750.00. The disclosure for this sale can be found here. Insiders have sold 15,827 shares of company stock valued at $859,173 over the last quarter. Company insiders own 1.77% of the company’s stock.
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About Insight Enterprises
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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