ClariVest Asset Management LLC cut its stake in shares of Insight Enterprises (NASDAQ:NSIT) by 1.2% in the 1st quarter, Holdings Channel reports. The firm owned 227,509 shares of the software maker’s stock after selling 2,800 shares during the period. ClariVest Asset Management LLC’s holdings in Insight Enterprises were worth $7,948,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in NSIT. Schwab Charles Investment Management Inc. lifted its position in Insight Enterprises by 0.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 434,154 shares of the software maker’s stock valued at $16,624,000 after purchasing an additional 4,015 shares during the last quarter. Alpha Windward LLC lifted its position in Insight Enterprises by 16.1% during the fourth quarter. Alpha Windward LLC now owns 13,860 shares of the software maker’s stock valued at $531,000 after purchasing an additional 1,920 shares during the last quarter. Strs Ohio lifted its position in Insight Enterprises by 9.6% during the fourth quarter. Strs Ohio now owns 26,300 shares of the software maker’s stock valued at $1,007,000 after purchasing an additional 2,300 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Insight Enterprises during the fourth quarter valued at approximately $4,222,000. Finally, Wedge Capital Management L L P NC lifted its position in Insight Enterprises by 3.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 292,779 shares of the software maker’s stock valued at $11,211,000 after purchasing an additional 11,082 shares during the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.
Several brokerages have issued reports on NSIT. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, February 20th. B. Riley reiterated a “buy” rating and set a $53.00 target price (down from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. ValuEngine lowered shares of Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub upgraded shares of Insight Enterprises from a “strong sell” rating to a “sell” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $48.00.
In other Insight Enterprises news, CFO Glynis Bryan sold 7,500 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $339,225.00. Following the transaction, the chief financial officer now directly owns 45,183 shares of the company’s stock, valued at $2,043,627.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven W. Dodenhoff sold 9,678 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $45.29, for a total transaction of $438,316.62. Following the transaction, the insider now directly owns 34,043 shares in the company, valued at $1,541,807.47. The disclosure for this sale can be found here. Insiders have sold 20,878 shares of company stock worth $940,453 over the last three months. Insiders own 1.77% of the company’s stock.
Insight Enterprises opened at $44.30 on Friday, Marketbeat.com reports. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 13.67 and a beta of 1.39. Insight Enterprises has a one year low of $45.09 and a one year high of $45.97. The company has a current ratio of 1.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.28.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, May 2nd. The software maker reported $0.94 EPS for the quarter, topping the consensus estimate of $0.60 by $0.34. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.53 billion. Insight Enterprises had a net margin of 1.57% and a return on equity of 15.75%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. analysts anticipate that Insight Enterprises will post 4.38 EPS for the current year.
Insight Enterprises declared that its board has approved a stock repurchase program on Wednesday, February 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Insight Enterprises Company Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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