Holdings L.P. Valueact Sells 450,000 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) Stock

Insight Enterprises, Inc. (NASDAQ:NSIT) Director Holdings L.P. Valueact sold 450,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value of $86,620,500.00. Following the completion of the transaction, the director now owns 4,061,739 shares in the company, valued at approximately $781,844,140.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Insight Enterprises Price Performance

Shares of NASDAQ:NSIT opened at $195.50 on Friday. Insight Enterprises, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $212.44. The business has a 50-day moving average of $191.93 and a two-hundred day moving average of $182.69. The stock has a market capitalization of $6.36 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.51 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that Insight Enterprises, Inc. will post 10.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Insight Enterprises

Several large investors have recently made changes to their positions in the business. EULAV Asset Management lifted its position in shares of Insight Enterprises by 39.8% during the 1st quarter. EULAV Asset Management now owns 40,821 shares of the software maker’s stock worth $7,573,000 after purchasing an additional 11,621 shares during the last quarter. Untitled Investments LP acquired a new position in shares of Insight Enterprises during the 1st quarter worth about $1,129,000. Comerica Bank lifted its position in shares of Insight Enterprises by 2.7% during the 1st quarter. Comerica Bank now owns 43,859 shares of the software maker’s stock worth $8,137,000 after purchasing an additional 1,143 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Insight Enterprises during the 1st quarter worth about $939,000. Finally, Truvestments Capital LLC acquired a new position in shares of Insight Enterprises during the 1st quarter worth about $409,000.

Analyst Ratings Changes

NSIT has been the topic of a number of recent research reports. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Stifel Nicolaus boosted their target price on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Barrington Research boosted their target price on Insight Enterprises from $211.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

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.