Comerica Bank Sells 6,524 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Comerica Bank lowered its stake in Insight Enterprises, Inc. (NASDAQ:NSITGet Rating) by 21.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,833 shares of the software maker’s stock after selling 6,524 shares during the quarter. Comerica Bank owned about 0.07% of Insight Enterprises worth $2,137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NSIT. ValueAct Holdings L.P. raised its stake in shares of Insight Enterprises by 15.7% in the second quarter. ValueAct Holdings L.P. now owns 4,099,226 shares of the software maker’s stock worth $353,681,000 after buying an additional 556,083 shares during the period. Capital Research Global Investors raised its stake in shares of Insight Enterprises by 173.7% in the first quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock worth $80,790,000 after buying an additional 477,800 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Insight Enterprises by 379.8% in the first quarter. Goldman Sachs Group Inc. now owns 409,417 shares of the software maker’s stock worth $43,939,000 after buying an additional 324,079 shares during the period. ExodusPoint Capital Management LP raised its stake in shares of Insight Enterprises by 691.8% in the second quarter. ExodusPoint Capital Management LP now owns 93,258 shares of the software maker’s stock worth $8,046,000 after buying an additional 81,480 shares during the period. Finally, Capital World Investors raised its stake in shares of Insight Enterprises by 19.4% in the first quarter. Capital World Investors now owns 487,525 shares of the software maker’s stock worth $52,321,000 after buying an additional 79,315 shares during the period.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barrington Research increased their target price on Insight Enterprises from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 14th. StockNews.com assumed coverage on Insight Enterprises in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Insight Enterprises Stock Performance

NASDAQ:NSIT opened at $109.59 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.50 and a debt-to-equity ratio of 0.48. Insight Enterprises, Inc. has a 12-month low of $81.11 and a 12-month high of $112.07. The stock has a 50-day moving average price of $102.22 and a 200 day moving average price of $93.74. The stock has a market capitalization of $3.82 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.00 and a beta of 1.57.

Insight Enterprises (NASDAQ:NSITGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.08. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Insight Enterprises had a return on equity of 19.33% and a net margin of 2.53%. Equities research analysts forecast that Insight Enterprises, Inc. will post 8.71 EPS for the current fiscal year.

Insider Buying and Selling at Insight Enterprises

In other Insight Enterprises news, insider Rachael Ann Bertrandt Crump sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $102.98, for a total transaction of $87,533.00. Following the completion of the transaction, the insider now owns 2,469 shares in the company, valued at approximately $254,257.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.61% of the stock is currently owned by company insiders.

About Insight Enterprises

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Insight 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.

See Also

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Institutional Ownership by Quarter for Insight Enterprises (NASDAQ:NSIT)

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