Point72 DIFC Ltd Makes New Investment in Insight Enterprises, Inc. (NASDAQ:NSIT)

Point72 DIFC Ltd acquired a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,438 shares of the software maker’s stock, valued at approximately $682,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Insight Enterprises by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,871,959 shares of the software maker’s stock valued at $718,326,000 after acquiring an additional 13,072 shares in the last quarter. Capital World Investors grew its position in shares of Insight Enterprises by 27.8% in the 1st quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock valued at $398,700,000 after buying an additional 467,088 shares during the last quarter. Capital Research Global Investors raised its stake in Insight Enterprises by 54.9% during the 1st quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock worth $168,398,000 after acquiring an additional 321,780 shares in the last quarter. Fiduciary Management Inc. WI boosted its stake in Insight Enterprises by 2.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 791,752 shares of the software maker’s stock valued at $140,291,000 after acquiring an additional 21,501 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in Insight Enterprises by 28.0% in the first quarter. Westfield Capital Management Co. LP now owns 405,407 shares of the software maker’s stock valued at $75,211,000 after acquiring an additional 88,641 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Barrington Research reissued an “outperform” rating and set a $225.00 price objective on shares of Insight Enterprises in a report on Friday, September 20th. Finally, Stifel Nicolaus increased their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 17th.

Insight Enterprises Price Performance

NSIT opened at $208.28 on Thursday. Insight Enterprises, Inc. has a 1 year low of $139.34 and a 1 year high of $228.07. The company’s 50 day simple moving average is $206.37 and its 200 day simple moving average is $198.51. The stock has a market capitalization of $6.78 billion, a PE ratio of 26.20, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 earnings per share. As a group, sell-side analysts expect that Insight Enterprises, Inc. will post 10.68 EPS for the current year.

Insider Activity at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $206.03, for a total transaction of $152,256.17. Following the sale, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.23% of the company’s stock.

About Insight Enterprises

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.