Insight Enterprises (NASDAQ:NSIT) Sees Strong Trading Volume – What’s Next?

Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) saw unusually-strong trading volume on Wednesday . Approximately 732,156 shares were traded during trading, an increase of 232% from the previous session’s volume of 220,640 shares.The stock last traded at $223.80 and had previously closed at $221.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NSIT shares. Barrington Research reaffirmed an “outperform” rating and set a $225.00 target price on shares of Insight Enterprises in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target 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. Stifel Nicolaus lifted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insight Enterprises Trading Up 1.4 %

The company has a 50 day moving average of $205.63 and a two-hundred day moving average of $200.53. The stock has a market capitalization of $7.32 billion, a PE ratio of 27.89, a P/E/G ratio of 1.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data 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). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.47 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.56 EPS. Sell-side analysts predict that Insight Enterprises, Inc. will post 10.68 EPS for the current year.

Insider Transactions at Insight Enterprises

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently modified their holdings of NSIT. Capital World Investors lifted its holdings in Insight Enterprises by 27.8% in the first 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. Capital Research Global Investors lifted its stake in shares of Insight Enterprises by 54.9% in 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. Capital International Investors purchased a new stake in Insight Enterprises during the first quarter worth $33,765,000. Westfield Capital Management Co. LP grew its position in Insight Enterprises by 28.0% during the first quarter. Westfield Capital Management Co. LP now owns 405,407 shares of the software maker’s stock valued at $75,211,000 after buying an additional 88,641 shares during the period. Finally, F M Investments LLC purchased a new position in Insight Enterprises in the second quarter valued at $17,258,000.

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.