Comerica Bank Sells 22,574 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Comerica Bank lowered its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,049 shares of the software maker's stock after selling 22,574 shares during the period. Comerica Bank's holdings in Insight Enterprises were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Insight Enterprises during the 4th quarter worth approximately $32,000. R Squared Ltd bought a new stake in shares of Insight Enterprises during the fourth quarter worth $33,000. J.Safra Asset Management Corp boosted its stake in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock valued at $37,000 after purchasing an additional 71 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Insight Enterprises by 32.8% in the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock worth $39,000 after purchasing an additional 63 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Insight Enterprises by 287.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker's stock worth $76,000 after buying an additional 374 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on NSIT shares. JPMorgan Chase & Co. dropped their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Barrington Research dropped their price objective on Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $185.00.

Insight Enterprises Price Performance

Shares of NSIT opened at $133.22 on Friday. The stock has a market capitalization of $4.25 billion, a PE ratio of 20.43, a PEG ratio of 1.40 and a beta of 1.22. The company has a 50 day moving average price of $142.60 and a 200-day moving average price of $156.81. 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, Inc. has a fifty-two week low of $126.10 and a fifty-two week high of $228.07.

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

Insight Enterprises 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.

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