Insight Enterprises, Inc. (NASDAQ:NSIT) Stake Lessened by Fort L.P.

Fort L.P. lowered its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,060 shares of the software maker’s stock after selling 306 shares during the period. Fort L.P.’s holdings in Insight Enterprises were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its stake in shares of Insight Enterprises by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,251 shares of the software maker’s stock worth $5,050,000 after acquiring an additional 3,956 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Insight Enterprises by 288.2% in the second quarter. Harbor Capital Advisors Inc. now owns 14,289 shares of the software maker’s stock worth $2,834,000 after acquiring an additional 10,608 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Insight Enterprises in the second quarter worth $682,000. Silver Lake Advisory LLC acquired a new position in shares of Insight Enterprises in the second quarter worth $6,343,000. Finally, Capital International Investors acquired a new position in shares of Insight Enterprises in the first quarter worth $33,765,000.

Insight Enterprises Stock Down 1.5 %

Insight Enterprises stock traded down $2.71 during mid-day trading on Friday, hitting $172.21. 562,149 shares of the company’s stock were exchanged, compared to its average volume of 276,908. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.61 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.37 and a beta of 1.48. Insight Enterprises, Inc. has a 1-year low of $139.34 and a 1-year high of $228.07. The stock has a 50 day moving average of $210.88 and a two-hundred day moving average of $203.79.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results 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 for the quarter, compared to analyst estimates of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.37 earnings per share. As a group, analysts anticipate that Insight Enterprises, Inc. will post 10.67 EPS for the current fiscal year.

Insider Activity

In other news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus increased their target price 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. Finally, Barrington Research reissued an “outperform” rating and set a $225.00 target price on shares of Insight Enterprises in a research report on Friday, September 20th.

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.