Maryland State Retirement & Pension System Sells 86 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Maryland State Retirement & Pension System reduced its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,978 shares of the software maker’s stock after selling 86 shares during the period. Maryland State Retirement & Pension System’s holdings in Insight Enterprises were worth $1,795,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in Insight Enterprises by 40.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 37,175 shares of the software maker’s stock valued at $5,409,000 after purchasing an additional 10,703 shares during the period. Mariner LLC increased its holdings in Insight Enterprises by 6.9% during the third quarter. Mariner LLC now owns 3,227 shares of the software maker’s stock worth $470,000 after buying an additional 207 shares during the last quarter. Trexquant Investment LP bought a new stake in Insight Enterprises in the third quarter worth about $358,000. Lido Advisors LLC bought a new stake in Insight Enterprises in the third quarter worth about $293,000. Finally, GSA Capital Partners LLP bought a new position in shares of Insight Enterprises during the 3rd quarter valued at approximately $1,334,000.

Insight Enterprises Trading Down 1.1 %

NASDAQ NSIT traded down $2.11 during trading on Friday, hitting $197.53. 11,019 shares of the company’s stock traded hands, compared to its average volume of 224,724. The stock has a fifty day moving average of $199.27 and a two-hundred day moving average of $189.16. Insight Enterprises, Inc. has a 12-month low of $131.59 and a 12-month high of $212.44. The firm has a market cap of $6.43 billion, a P/E ratio of 25.11, a PEG ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $1.78 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Insight Enterprises, Inc. will post 10.78 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus upped 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. JPMorgan Chase & Co. upped their price objective on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barrington Research lifted their target price on shares of Insight Enterprises from $211.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday.

Insiders Place Their Bets

In other news, Director Holdings L.P. Valueact sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value of $86,620,500.00. Following the completion of the sale, the director now directly owns 4,061,739 shares of the company’s stock, valued at approximately $781,844,140.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the sale, the chief executive officer now directly owns 40,807 shares of the company’s stock, valued at $8,205,471.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Holdings L.P. Valueact sold 450,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value of $86,620,500.00. Following the transaction, the director now directly owns 4,061,739 shares of the company’s stock, valued at approximately $781,844,140.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 462,750 shares of company stock worth $89,169,833. 1.23% of the stock is currently owned by company insiders.

Insight Enterprises Profile

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.