ProShare Advisors LLC Reduces Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

ProShare Advisors LLC trimmed its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 8.1% in the first quarter, HoldingsChannel.com reports. The fund owned 4,524 shares of the software maker’s stock after selling 401 shares during the quarter. ProShare Advisors LLC’s holdings in Insight Enterprises were worth $647,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NSIT. Envestnet Asset Management Inc. raised its holdings in shares of Insight Enterprises by 3,760.3% in the first quarter. Envestnet Asset Management Inc. now owns 945,618 shares of the software maker’s stock worth $2,757,000 after acquiring an additional 921,122 shares during the last quarter. Capital Research Global Investors raised its holdings 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 acquiring an additional 477,800 shares during the last quarter. Morgan Stanley raised its holdings in shares of Insight Enterprises by 141.7% in the fourth quarter. Morgan Stanley now owns 811,951 shares of the software maker’s stock worth $81,414,000 after acquiring an additional 476,084 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 324,079 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Insight Enterprises in the fourth quarter worth $30,493,000.

Insight Enterprises Price Performance

NSIT stock opened at $152.65 on Friday. The stock has a 50-day moving average price of $149.08 and a two-hundred day moving average price of $139.89. Insight Enterprises, Inc. has a 12-month low of $81.11 and a 12-month high of $162.05. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.43 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.02). Insight Enterprises had a net margin of 2.73% and a return on equity of 19.30%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the firm posted $2.78 EPS. Insight Enterprises’s revenue was down 14.4% on a year-over-year basis. As a group, research analysts predict that Insight Enterprises, Inc. will post 9.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NSIT shares. Barrington Research lifted their price objective on Insight Enterprises from $146.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. StockNews.com started coverage on Insight Enterprises in a research report on Thursday, August 17th. They issued a “hold” rating for the company.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software services and solutions in the United States and internationally. The company's solution portfolio includes cloud enablement, data and AI, digital strategy, intelligent applications and edge, and IoT solutions, as well as digital transformation services.