BNP Paribas Financial Markets Grows Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

BNP Paribas Financial Markets raised its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 90.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,426 shares of the software maker's stock after buying an additional 23,425 shares during the period. BNP Paribas Financial Markets owned about 0.16% of Insight Enterprises worth $7,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new position in Insight Enterprises in the 4th quarter valued at about $57,380,000. Norges Bank bought a new position in shares of Insight Enterprises in the fourth quarter valued at approximately $47,585,000. Hennessy Advisors Inc. purchased a new position in shares of Insight Enterprises during the fourth quarter valued at approximately $39,242,000. Pacer Advisors Inc. grew its holdings in Insight Enterprises by 26.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock worth $163,243,000 after buying an additional 225,283 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Insight Enterprises by 65.7% during the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock worth $41,188,000 after buying an additional 107,397 shares in the last quarter.

Insight Enterprises Stock Performance

NASDAQ:NSIT traded up $2.48 during trading on Friday, reaching $137.08. The company's stock had a trading volume of 552,341 shares, compared to its average volume of 320,670. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The firm has a 50 day moving average of $141.04 and a 200-day moving average of $154.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. The firm's revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.37 earnings per share. Research analysts expect that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NSIT. JPMorgan Chase & Co. cut their price objective on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barrington Research dropped their price target on shares of Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $185.00.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.