Amalgamated Bank reduced its position in Insight Enterprises, Inc. (NASDAQ:NSIT – Get Rating) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,020 shares of the software maker's stock after selling 940 shares during the period. Amalgamated Bank's holdings in Insight Enterprises were worth $1,719,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vise Technologies Inc. acquired a new position in shares of Insight Enterprises in the 1st quarter valued at about $368,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Insight Enterprises by 1.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 29,966 shares of the software maker's stock worth $3,216,000 after acquiring an additional 534 shares during the period. Capital World Investors boosted its holdings in Insight Enterprises by 19.4% in the 1st quarter. Capital World Investors now owns 487,525 shares of the software maker's stock worth $52,321,000 after acquiring an additional 79,315 shares during the period. Capital Research Global Investors raised its stake in shares of Insight Enterprises by 173.7% during the first quarter. Capital Research Global Investors now owns 752,800 shares of the software maker's stock valued at $80,790,000 after purchasing an additional 477,800 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Insight Enterprises in the first quarter valued at $580,000.
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NSIT has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Insight Enterprises in a research note on Thursday, July 14th. They issued a "neutral" rating and a $98.00 target price for the company. Barrington Research decreased their target price on shares of Insight Enterprises from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Monday, August 8th.
Insider Activity at Insight Enterprises
In related news, Director Kathleen S. Pushor sold 2,000 shares of the company's stock in a transaction on Friday, August 19th. The shares were sold at an average price of $95.78, for a total value of $191,560.00. Following the sale, the director now directly owns 5,825 shares of the company's stock, valued at $557,918.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kathleen S. Pushor sold 2,000 shares of the company's stock in a transaction on Friday, August 19th. The shares were sold at an average price of $95.78, for a total value of $191,560.00. Following the sale, the director now directly owns 5,825 shares of the company's stock, valued at $557,918.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Holdings L.P. Valueact bought 18,185 shares of the company's stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of $93.92 per share, for a total transaction of $1,707,935.20. Following the completion of the acquisition, the director now directly owns 4,117,411 shares of the company's stock, valued at approximately $386,707,241.12. The disclosure for this purchase can be found here. Insiders have purchased 199,572 shares of company stock valued at $18,684,644 over the last ninety days. Corporate insiders own 1.61% of the company's stock.Insight Enterprises Price Performance
Shares of NSIT stock opened at $82.13 on Tuesday. The company has a market capitalization of $2.88 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.59. The firm has a fifty day simple moving average of $90.05 and a 200-day simple moving average of $94.96. The company has a current ratio of 1.48, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. Insight Enterprises, Inc. has a twelve month low of $81.37 and a twelve month high of $111.02.
Insight Enterprises (NASDAQ:NSIT – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.76. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.61 billion. Insight Enterprises had a net margin of 2.53% and a return on equity of 19.60%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share. Equities research analysts anticipate that Insight Enterprises, Inc. will post 8.68 earnings per share for the current fiscal year.
Insight Enterprises Profile
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IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.
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