Redwood Investment Management LLC Reduces Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Redwood Investment Management LLC trimmed its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,621 shares of the software maker’s stock after selling 2,229 shares during the quarter. Redwood Investment Management LLC’s holdings in Insight Enterprises were worth $2,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSIT. DekaBank Deutsche Girozentrale lifted its holdings in shares of Insight Enterprises by 10.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 3,529 shares of the software maker’s stock worth $652,000 after buying an additional 342 shares in the last quarter. GAMMA Investing LLC raised its holdings in Insight Enterprises by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock valued at $90,000 after buying an additional 164 shares during the last quarter. CWM LLC lifted its holdings in Insight Enterprises by 154.8% in the 2nd quarter. CWM LLC now owns 1,995 shares of the software maker’s stock worth $396,000 after buying an additional 1,212 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises in the 2nd quarter worth approximately $38,000. Finally, Country Trust Bank grew its holdings in shares of Insight Enterprises by 0.5% during the 2nd quarter. Country Trust Bank now owns 160,057 shares of the software maker’s stock worth $31,749,000 after acquiring an additional 830 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NSIT shares. Redburn Atlantic began coverage on shares of Insight Enterprises in a report on Friday, November 15th. They set a “buy” rating and a $220.00 target price for the company. Barrington Research decreased their price objective on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Insight Enterprises currently has a consensus rating of “Hold” and a consensus price target of $212.50.

Insight Enterprises Stock Performance

NSIT opened at $161.21 on Thursday. 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 company has a market cap of $5.12 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.40 and a beta of 1.42. The company’s 50 day moving average is $188.03 and its 200 day moving average is $198.47. Insight Enterprises, Inc. has a 12-month low of $146.56 and a 12-month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data 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). The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.37 EPS. On average, equities research analysts predict that Insight Enterprises, Inc. will post 9.55 EPS for the current year.

Insight Enterprises Company 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.