Moran Wealth Management LLC Lowers Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Moran Wealth Management LLC cut its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,288 shares of the software maker’s stock after selling 645 shares during the period. Moran Wealth Management LLC’s holdings in Insight Enterprises were worth $3,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NSIT. Vanguard Group Inc. raised its holdings in shares of Insight Enterprises by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,871,959 shares of the software maker’s stock valued at $718,326,000 after buying an additional 13,072 shares during the period. Capital World Investors lifted its position in shares of Insight Enterprises by 27.8% during the first quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock worth $398,700,000 after purchasing an additional 467,088 shares during the last quarter. Capital Research Global Investors increased its holdings 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 acquiring an additional 321,780 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Insight Enterprises by 14.7% during the second quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker’s stock worth $56,790,000 after purchasing an additional 36,790 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Insight Enterprises by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 192,551 shares of the software maker’s stock valued at $41,474,000 after acquiring an additional 709 shares during the period.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Redburn Atlantic began coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They issued a “buy” rating and a $220.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Barrington Research cut their price target on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $212.50.

Insight Enterprises Trading Down 0.1 %

NASDAQ:NSIT opened at $149.95 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $4.76 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.31 and a beta of 1.48. The stock’s 50 day moving average price is $198.87 and its 200 day moving average price is $201.85. Insight Enterprises, Inc. has a 52 week low of $146.56 and a 52 week high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company earned $2.37 EPS. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, research analysts forecast 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.