Thrivent Financial For Lutherans raised its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 1,112.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 441,152 shares of the software maker’s stock after acquiring an additional 404,777 shares during the quarter. Thrivent Financial For Lutherans owned approximately 1.23% of Insight Enterprises worth $17,642,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gotham Asset Management LLC bought a new stake in Insight Enterprises during the 1st quarter valued at $1,562,000. Vanguard Group Inc. boosted its position in Insight Enterprises by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after acquiring an additional 144,077 shares in the last quarter. KBC Group NV boosted its position in Insight Enterprises by 40.5% during the 2nd quarter. KBC Group NV now owns 34,263 shares of the software maker’s stock valued at $1,370,000 after acquiring an additional 9,876 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in Insight Enterprises by 172.4% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 84,174 shares of the software maker’s stock valued at $3,457,000 after acquiring an additional 53,278 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in Insight Enterprises during the 1st quarter valued at $1,903,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Glynis Bryan sold 5,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $41.90, for a total transaction of $209,500.00. Following the completion of the transaction, the chief financial officer now owns 30,797 shares in the company, valued at $1,290,394.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.38% of the company’s stock.
Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) opened at 42.00 on Wednesday. The stock’s 50 day moving average price is $40.62 and its 200 day moving average price is $41.62. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 15.60 and a beta of 1.63. Insight Enterprises, Inc. has a one year low of $28.15 and a one year high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The firm 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%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Analysts forecast that Insight Enterprises, Inc. will post $3.23 earnings per share for the current year.
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Several brokerages have issued reports on NSIT. B. Riley raised Insight Enterprises from a “neutral” rating to a “buy” rating and increased their target price for the company 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 target price on the stock in a research report on Saturday, August 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price (up previously from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Finally, BidaskClub cut Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Insight Enterprises currently has a consensus rating of “Hold” and an average target price of $50.50.
About Insight Enterprises
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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