Allspring Global Investments Holdings LLC lowered its position in Insight Enterprises, Inc. (NASDAQ:NSIT – Free Report) by 38.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,434 shares of the software maker’s stock after selling 25,142 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Insight Enterprises worth $5,771,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of Insight Enterprises by 40.2% during the 3rd quarter. Federated Hermes Inc. now owns 366 shares of the software maker’s stock worth $30,000 after buying an additional 105 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Insight Enterprises during the first quarter worth about $31,000. Mendota Financial Group LLC bought a new position in Insight Enterprises in the 1st quarter valued at about $68,000. Harvest Fund Management Co. Ltd bought a new position in Insight Enterprises in the 1st quarter valued at about $74,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Insight Enterprises in the 1st quarter valued at approximately $107,000.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Barrington Research reiterated an “outperform” rating and issued a $168.00 target price on shares of Insight Enterprises in a research note on Monday, September 11th.
Insight Enterprises Price Performance
Shares of NASDAQ:NSIT opened at $143.03 on Friday. The company has a market capitalization of $5.09 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.54. Insight Enterprises, Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $162.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.23 and a current ratio of 1.31. The company’s 50-day moving average is $148.44 and its 200 day moving average is $142.33.
Insight Enterprises (NASDAQ:NSIT – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $2.56 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.02). Insight Enterprises had a net margin of 2.73% and a return on equity of 19.30%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. The company’s quarterly revenue was down 14.4% on a year-over-year basis. On average, equities research analysts forecast that Insight Enterprises, Inc. will post 9.48 earnings per share for the current year.
About Insight Enterprises
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.
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