PNC Financial Services Group Inc. Sells 242 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

PNC Financial Services Group Inc. cut its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,639 shares of the software maker’s stock after selling 242 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Insight Enterprises were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Insight Enterprises during the 2nd quarter valued at $38,000. GAMMA Investing LLC increased its stake in shares of Insight Enterprises by 56.9% during the second quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock valued at $90,000 after purchasing an additional 164 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Insight Enterprises by 40.8% during the second 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 last quarter. Ausbil Investment Management Ltd bought a new stake in shares of Insight Enterprises in the 2nd quarter worth approximately $195,000. Finally, Huntington National Bank grew its stake in shares of Insight Enterprises by 7.3% in the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker’s stock worth $214,000 after buying an additional 68 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NSIT. Barrington Research dropped their target price on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Redburn Atlantic assumed coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $212.50.

Insight Enterprises Stock Up 0.3 %

Insight Enterprises stock opened at $156.28 on Thursday. Insight Enterprises, Inc. has a 12 month low of $146.56 and a 12 month high of $228.07. The stock has a fifty day simple moving average of $194.38 and a two-hundred day simple moving average of $200.47. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.35 and a beta of 1.48.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.18). The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. Insight Enterprises’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.37 earnings per share. Equities analysts predict that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Insight Enterprises 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.