Intech Investment Management LLC Makes New $2.80 Million Investment in Insight Enterprises, Inc. (NASDAQ:NSIT)

Intech Investment Management LLC purchased a new position in Insight Enterprises, Inc. (NASDAQ:NSIT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,098 shares of the software maker’s stock, valued at approximately $2,796,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Insight Enterprises in the second quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in Insight Enterprises by 32.7% in the 1st quarter. GAMMA Investing LLC now owns 288 shares of the software maker’s stock worth $53,000 after purchasing an additional 71 shares during the period. EntryPoint Capital LLC bought a new position in Insight Enterprises during the 1st quarter worth about $89,000. Blue Trust Inc. raised its stake in shares of Insight Enterprises by 40.8% in the 2nd quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock valued at $99,000 after purchasing an additional 154 shares during the period. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Insight Enterprises in the second quarter valued at about $195,000.

Insight Enterprises Stock Up 0.4 %

NASDAQ:NSIT opened at $213.84 on Monday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.46. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. Insight Enterprises, Inc. has a twelve month low of $139.34 and a twelve month high of $228.07. The stock’s 50 day moving average price is $206.68 and its two-hundred day moving average price is $198.09.

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

Insider Activity at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the transaction, the insider now owns 5,460 shares in the company, valued at $1,124,923.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSIT. StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Stifel Nicolaus boosted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced 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, Barrington Research reiterated an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a research note on Friday.

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.