Ameriprise Financial Inc. Sells 7,696 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Ameriprise Financial Inc. lessened its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,459 shares of the software maker’s stock after selling 7,696 shares during the period. Ameriprise Financial Inc. owned about 0.23% of Insight Enterprises worth $11,325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Insight Enterprises during the 4th quarter worth approximately $32,000. R Squared Ltd bought a new position in Insight Enterprises in the fourth quarter valued at $33,000. J.Safra Asset Management Corp increased its stake in Insight Enterprises by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock valued at $37,000 after buying an additional 71 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Insight Enterprises by 32.8% during the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after buying an additional 63 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Insight Enterprises by 287.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock worth $76,000 after acquiring an additional 374 shares in the last quarter.

Insight Enterprises Stock Up 1.8%

NSIT opened at $137.08 on Monday. The stock’s fifty day simple moving average is $140.69 and its 200 day simple moving average is $153.79. Insight Enterprises, Inc. has a 1-year low of $126.10 and a 1-year high of $228.07. The stock has a market cap of $4.38 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.03. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the business earned $2.37 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, research analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NSIT. JPMorgan Chase & Co. decreased their price target on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Barrington Research decreased their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $185.00.

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.