ProShare Advisors LLC Reduces Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

ProShare Advisors LLC cut its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 23.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,321 shares of the software maker’s stock after selling 1,341 shares during the period. ProShare Advisors LLC’s holdings in Insight Enterprises were worth $857,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NSIT. TFO Wealth Partners LLC raised its position in Insight Enterprises by 86,050.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,723 shares of the software maker’s stock worth $305,000 after buying an additional 1,721 shares during the last quarter. Paulson Wealth Management Inc. purchased a new stake in Insight Enterprises in the fourth quarter valued at $204,000. California State Teachers Retirement System boosted its holdings in Insight Enterprises by 5.9% in the fourth quarter. California State Teachers Retirement System now owns 33,485 shares of the software maker’s stock valued at $5,933,000 after purchasing an additional 1,877 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Insight Enterprises by 98.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 29,856 shares of the software maker’s stock worth $5,290,000 after purchasing an additional 14,834 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of Insight Enterprises by 43.6% during the 4th quarter. Capital Research Global Investors now owns 585,929 shares of the software maker’s stock valued at $103,821,000 after buying an additional 177,943 shares during the last quarter.

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $213.06 on Friday. The company has a market capitalization of $6.94 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.65 and a beta of 1.46. Insight Enterprises, Inc. has a 12-month low of $139.34 and a 12-month high of $228.07. The business’s 50 day moving average is $206.29 and its two-hundred day moving average is $198.79. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.56 EPS. Analysts expect that Insight Enterprises, Inc. will post 10.68 EPS for the current fiscal year.

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 shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NSIT has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Barrington Research restated an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their target price on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insight Enterprises Company 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.