JPMorgan Chase & Co. lifted its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,052,433 shares of the software maker’s stock after acquiring an additional 97,342 shares during the period. JPMorgan Chase & Co. owned approximately 2.94% of Insight Enterprises worth $42,087,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Insight Enterprises by 17.6% in the second 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 during the period. Ameritas Investment Partners Inc. bought a new stake in Insight Enterprises during the first quarter valued at $123,000. Invictus RG bought a new stake in Insight Enterprises during the first quarter valued at $199,000. State of Alaska Department of Revenue boosted its stake in Insight Enterprises by 80.0% during the second quarter. State of Alaska Department of Revenue now owns 7,057 shares of the software maker’s stock valued at $282,000 after buying an additional 3,137 shares during the period. Finally, Pacad Investment Ltd. boosted its stake in Insight Enterprises by 16.9% during the second quarter. Pacad Investment Ltd. now owns 7,600 shares of the software maker’s stock valued at $304,000 after buying an additional 1,100 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Insight Enterprises, Inc. (NASDAQ NSIT) opened at 40.45 on Friday. Insight Enterprises, Inc. has a 52-week low of $28.15 and a 52-week high of $53.19. The firm’s 50-day moving average price is $40.55 and its 200-day moving average price is $41.68. The stock has a market cap of $1.45 billion, a P/E ratio of 15.03 and a beta of 1.63.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. Insight Enterprises’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Equities analysts predict that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
NSIT has been the subject of several research analyst reports. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Saturday, August 5th. BidaskClub lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective (up previously from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Finally, B. Riley raised Insight Enterprises to a “buy” rating and set a $54.50 price objective for the company in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.50.
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In related news, CFO Glynis Bryan sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 30,797 shares of the company’s stock, valued at approximately $1,290,394.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.38% of the company’s stock.
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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