Bank of New York Mellon Corp Sells 39,425 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Bank of New York Mellon Corp cut its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 15.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,413 shares of the software maker’s stock after selling 39,425 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Insight Enterprises worth $33,210,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Insight Enterprises in the 4th quarter worth approximately $532,000. Amundi raised its holdings in shares of Insight Enterprises by 183.3% in the fourth quarter. Amundi now owns 14,176 shares of the software maker’s stock worth $2,233,000 after buying an additional 9,172 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Insight Enterprises by 11.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,264 shares of the software maker’s stock worth $1,105,000 after purchasing an additional 738 shares during the period. HighTower Advisors LLC raised its position in shares of Insight Enterprises by 7.0% in the 4th quarter. HighTower Advisors LLC now owns 5,838 shares of the software maker’s stock valued at $888,000 after purchasing an additional 383 shares during the last quarter. Finally, Swiss National Bank boosted its position in Insight Enterprises by 0.9% in the fourth quarter. Swiss National Bank now owns 54,500 shares of the software maker’s stock valued at $8,289,000 after buying an additional 500 shares during the last quarter.

Insight Enterprises Stock Down 2.5%

Shares of NASDAQ NSIT opened at $137.21 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.23. Insight Enterprises, Inc. has a 52 week low of $126.10 and a 52 week high of $228.07. The stock has a market capitalization of $4.38 billion, a P/E ratio of 27.44, a PEG ratio of 1.30 and a beta of 1.20. The stock’s fifty day moving average is $135.85 and its 200 day moving average is $147.11.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NSIT shares. Barrington Research restated an “outperform” rating and set a $164.00 target price on shares of Insight Enterprises in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price objective on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th.

Insight Enterprises 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.