Parallel Advisors LLC Acquires 95 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Parallel Advisors LLC raised its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 40.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330 shares of the software maker’s stock after purchasing an additional 95 shares during the quarter. Parallel Advisors LLC’s holdings in Insight Enterprises were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Alberta Investment Management Corp bought a new position in Insight Enterprises during the fourth quarter valued at $2,494,000. Raymond James Financial Inc. bought a new position in Insight Enterprises during the fourth quarter valued at $532,000. Principal Financial Group Inc. lifted its position in Insight Enterprises by 1.2% during the fourth quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker’s stock valued at $21,833,000 after purchasing an additional 1,653 shares during the last quarter. Rhumbline Advisers lifted its position in Insight Enterprises by 2.4% during the fourth quarter. Rhumbline Advisers now owns 82,198 shares of the software maker’s stock valued at $12,502,000 after purchasing an additional 1,925 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in Insight Enterprises during the fourth quarter valued at $449,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NSIT shares. Barrington Research reissued an “outperform” rating and issued a $164.00 target price on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $185.00.

Insight Enterprises Trading Up 1.2%

Shares of NSIT opened at $133.82 on Monday. Insight Enterprises, Inc. has a twelve month low of $126.10 and a twelve month high of $228.07. The company has a market cap of $4.27 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.40 and a beta of 1.20. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $134.41 and its 200-day simple moving average is $150.79.

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

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.