Insight Enterprises, Inc. (NASDAQ:NSIT) Position Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,143 shares of the software maker’s stock after selling 381 shares during the period. State of Alaska Department of Revenue’s holdings in Insight Enterprises were worth $2,271,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Insight Enterprises by 32.8% during the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock valued at $39,000 after purchasing an additional 63 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Insight Enterprises by 40.8% during the fourth 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 in the last quarter. Cornerstone Investment Partners LLC boosted its stake in Insight Enterprises by 5.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker’s stock valued at $209,000 after buying an additional 75 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Insight Enterprises by 40.4% during the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker’s stock valued at $49,000 after purchasing an additional 95 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Insight Enterprises by 4.0% during the 4th quarter. Quantinno Capital Management LP now owns 3,594 shares of the software maker’s stock valued at $547,000 after purchasing an additional 138 shares in the last quarter.

Wall Street Analyst Weigh In

NSIT has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $164.00 price target on shares of Insight Enterprises in a research report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.00.

Insight Enterprises Trading Down 2.0%

NSIT opened at $131.57 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $4.20 billion, a PE ratio of 26.31, a PEG ratio of 1.22 and a beta of 1.20. Insight Enterprises, Inc. has a 1-year low of $126.10 and a 1-year high of $228.07. The firm has a 50-day moving average price of $134.09 and a two-hundred day moving average price of $149.13.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, May 1st. The software maker reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business earned $2.37 EPS. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Insight Enterprises Company Profile

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.