Insight Enterprises, Inc. (NSIT) Holdings Boosted by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 599,491 shares of the software maker’s stock after purchasing an additional 6,948 shares during the period. Bank of New York Mellon Corp owned approximately 1.68% of Insight Enterprises worth $23,974,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Insight Enterprises in the first quarter worth $123,000. Invictus RG acquired a new stake in shares of Insight Enterprises in the first quarter worth $199,000. State of Alaska Department of Revenue increased its position in shares of Insight Enterprises by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 7,057 shares of the software maker’s stock worth $282,000 after acquiring an additional 3,137 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Insight Enterprises in the first quarter worth $311,000. Finally, Capital One National Association acquired a new stake in shares of Insight Enterprises in the second quarter worth $332,000. 97.04% of the stock is currently owned by institutional investors.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $41.90, for a total value of $209,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,797 shares in the company, valued at $1,290,394.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is owned by insiders.
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Shares of Insight Enterprises, Inc. (NSIT) opened at 40.45 on Friday. The stock has a 50 day moving average of $40.55 and a 200 day moving average of $41.68. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 15.03 and a beta of 1.63. Insight Enterprises, Inc. has a 52-week low of $28.15 and a 52-week high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.19. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Equities analysts predict that Insight Enterprises, Inc. will post $3.23 EPS for the current fiscal year.
NSIT has been the subject of several recent research reports. BidaskClub lowered shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Finally, B. Riley raised shares of Insight Enterprises from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $54.50 in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Insight Enterprises currently has a consensus rating of “Hold” and a consensus price target of $50.50.
Insight Enterprises Profile
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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