Geode Capital Management LLC Increases Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Geode Capital Management LLC lifted its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,483 shares of the software maker’s stock after purchasing an additional 10,711 shares during the period. Geode Capital Management LLC owned about 2.08% of Insight Enterprises worth $142,073,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NSIT. EULAV Asset Management increased its position in Insight Enterprises by 7.2% during the third quarter. EULAV Asset Management now owns 49,879 shares of the software maker’s stock worth $10,743,000 after buying an additional 3,359 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Insight Enterprises during the 2nd quarter worth about $682,000. Harbor Capital Advisors Inc. increased its position in Insight Enterprises by 65.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,578 shares of the software maker’s stock worth $5,078,000 after purchasing an additional 9,289 shares in the last quarter. BOKF NA acquired a new position in Insight Enterprises in the 2nd quarter valued at about $622,000. Finally, Quest Partners LLC lifted its holdings in Insight Enterprises by 646.4% in the 2nd quarter. Quest Partners LLC now owns 5,568 shares of the software maker’s stock valued at $1,104,000 after purchasing an additional 4,822 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Redburn Atlantic began coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They issued a “buy” rating and a $220.00 price objective for the company. Barrington Research cut their price target on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $212.50.

Insight Enterprises Trading Up 1.6 %

NASDAQ NSIT opened at $161.48 on Tuesday. The company has a 50-day moving average of $179.53 and a 200-day moving average of $195.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20. Insight Enterprises, Inc. has a 12 month low of $146.56 and a 12 month high of $228.07. The company has a market cap of $5.13 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.42 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business earned $2.37 EPS. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities analysts predict that Insight Enterprises, Inc. will post 9.55 earnings per share for the current year.

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.