Arrowstreet Capital Limited Partnership Sells 230,803 Shares of Insight Enterprises, Inc. (NSIT)
Arrowstreet Capital Limited Partnership cut its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 71.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 90,279 shares of the software maker’s stock after selling 230,803 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.25% of Insight Enterprises worth $3,610,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in NSIT. Victory Capital Management Inc. lifted its position in Insight Enterprises by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $103,000 after acquiring an additional 385 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Insight Enterprises during the 1st quarter worth approximately $123,000. Invictus RG acquired a new position in Insight Enterprises during the 1st quarter worth approximately $199,000. Bayesian Capital Management LP lifted its position in Insight Enterprises by 21.6% during the 2nd quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock worth $257,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Insight Enterprises during the 2nd quarter worth approximately $273,000. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
Insight Enterprises, Inc. (NSIT) opened at 44.82 on Wednesday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 16.65 and a beta of 1.67. Insight Enterprises, Inc. has a 12 month low of $28.15 and a 12 month high of $53.19. The firm has a 50 day moving average price of $42.51 and a 200-day moving average price of $41.95.
Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was 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 owns 30,797 shares in the company, valued at approximately $1,290,394.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is currently owned by company insiders.
NSIT has been the topic of several recent research reports. B. Riley raised Insight Enterprises from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $54.50 in a research report on Thursday, August 3rd. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Saturday, August 5th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target (up from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Finally, BidaskClub lowered Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Insight Enterprises currently has a consensus rating of “Hold” and an average target price 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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