Teachers Retirement System of The State of Kentucky Has $3.62 Million Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 14.9% in the second quarter, HoldingsChannel.com reports. The fund owned 18,259 shares of the software maker’s stock after selling 3,203 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Insight Enterprises were worth $3,621,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NSIT. California State Teachers Retirement System lifted its position in shares of Insight Enterprises by 5.9% during the 4th quarter. California State Teachers Retirement System now owns 33,485 shares of the software maker’s stock valued at $5,933,000 after acquiring an additional 1,877 shares during the period. Capital Research Global Investors raised its holdings in shares of Insight Enterprises by 43.6% during the fourth quarter. Capital Research Global Investors now owns 585,929 shares of the software maker’s stock valued at $103,821,000 after purchasing an additional 177,943 shares during the period. Capital World Investors raised its holdings in shares of Insight Enterprises by 3.5% during the fourth quarter. Capital World Investors now owns 1,682,004 shares of the software maker’s stock valued at $298,034,000 after purchasing an additional 56,715 shares during the period. Prudential PLC bought a new position in shares of Insight Enterprises during the 4th quarter worth about $1,394,000. Finally, Fiduciary Management Inc. WI grew its stake in shares of Insight Enterprises by 2.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 791,752 shares of the software maker’s stock valued at $140,291,000 after buying an additional 21,501 shares during the period.

Insight Enterprises Stock Performance

Shares of NSIT opened at $214.14 on Friday. Insight Enterprises, Inc. has a 52 week low of $139.34 and a 52 week high of $228.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22. The stock has a 50 day moving average price of $205.96 and a two-hundred day moving average price of $199.47. The firm has a market capitalization of $6.97 billion, a P/E ratio of 26.94, a P/E/G ratio of 1.65 and a beta of 1.46.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). The company had revenue of $2.16 billion during 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.56 earnings per share. Equities analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share for the current fiscal year.

Insider Activity at Insight Enterprises

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 directly owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on NSIT. Barrington Research reiterated an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th. StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Stifel Nicolaus lifted their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report 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.