Victory Capital Management Inc. Purchases 9,033 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Victory Capital Management Inc. grew its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 16.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,572 shares of the software maker’s stock after purchasing an additional 9,033 shares during the quarter. Victory Capital Management Inc.’s holdings in Insight Enterprises were worth $13,007,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NSIT. Capital World Investors raised its holdings in Insight Enterprises by 27.8% during the 1st quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock valued at $398,700,000 after acquiring an additional 467,088 shares during the period. Norges Bank bought a new stake in shares of Insight Enterprises during the 4th quarter valued at $58,687,000. Capital Research Global Investors raised its stake in shares of Insight Enterprises by 54.9% during the 1st quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock valued at $168,398,000 after purchasing an additional 321,780 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Insight Enterprises during the 4th quarter worth about $56,128,000. Finally, Capital International Investors bought a new position in Insight Enterprises in the 1st quarter worth about $33,765,000.

Insider Activity

In other news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.23% of the company’s stock.

Insight Enterprises Stock Up 3.0 %

Shares of NSIT opened at $208.71 on Friday. Insight Enterprises, Inc. has a 1 year low of $139.34 and a 1 year high of $228.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.22 and a quick ratio of 1.19. The stock has a 50 day simple moving average of $205.10 and a two-hundred day simple moving average of $196.88. The firm has a market cap of $6.80 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.54 and a beta of 1.46.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm posted $2.56 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. On average, analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Barrington Research restated an “outperform” rating and set a $225.00 price target on shares of Insight Enterprises in a research report on Monday, August 5th. StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd.

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.