Insight Enterprises, Inc. (NSIT) Stake Lessened by Legal & General Group Plc

Legal & General Group Plc cut its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,969 shares of the software maker’s stock after selling 3,140 shares during the period. Legal & General Group Plc owned about 0.28% of Insight Enterprises worth $4,851,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Insight Enterprises by 15.9% in the second quarter. Victory Capital Management Inc. now owns 8,082 shares of the software maker’s stock valued at $395,000 after acquiring an additional 1,108 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Insight Enterprises by 6.1% in the second quarter. Aperio Group LLC now owns 26,383 shares of the software maker’s stock valued at $1,291,000 after acquiring an additional 1,520 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Insight Enterprises by 38.1% in the first quarter. Trexquant Investment LP now owns 7,254 shares of the software maker’s stock valued at $253,000 after acquiring an additional 2,002 shares in the last quarter. Swiss National Bank grew its holdings in shares of Insight Enterprises by 4.5% in the first quarter. Swiss National Bank now owns 62,400 shares of the software maker’s stock valued at $2,180,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Insight Enterprises by 7,465.1% in the second quarter. Meeder Asset Management Inc. now owns 3,253 shares of the software maker’s stock valued at $159,000 after acquiring an additional 3,210 shares in the last quarter. 95.05% of the stock is owned by institutional investors.

NSIT has been the subject of several recent analyst reports. BidaskClub raised Insight Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, June 8th. Zacks Investment Research lowered Insight Enterprises from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, B. Riley increased their price objective on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, August 2nd.

In other Insight Enterprises news, Director Anthony Ibarguen sold 5,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total transaction of $267,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven W. Dodenhoff sold 4,827 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $56.57, for a total value of $273,063.39. Following the transaction, the insider now directly owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,827 shares of company stock valued at $859,173. 1.77% of the stock is owned by corporate insiders.

Shares of NASDAQ NSIT opened at $55.48 on Friday. Insight Enterprises, Inc. has a 1-year low of $32.10 and a 1-year high of $56.86. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 17.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.28.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, August 1st. The software maker reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. Insight Enterprises had a return on equity of 16.42% and a net margin of 1.69%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company earned $1.14 earnings per share. Insight Enterprises’s revenue was up 9.1% compared to the same quarter last year. analysts anticipate that Insight Enterprises, Inc. will post 4.54 earnings per share for the current year.

Insight Enterprises Profile

Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for Insight Enterprises (NASDAQ:NSIT)

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