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

Comerica Bank lowered its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 63.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,049 shares of the software maker's stock after selling 22,574 shares during the quarter. Comerica Bank's holdings in Insight Enterprises were worth $1,985,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NSIT. Pacer Advisors Inc. raised its holdings in shares of Insight Enterprises by 26.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock valued at $163,243,000 after purchasing an additional 225,283 shares during the period. Dimensional Fund Advisors LP boosted its position in Insight Enterprises by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker's stock valued at $124,934,000 after buying an additional 2,944 shares during the period. Northern Trust Corp increased its stake in shares of Insight Enterprises by 16.5% during the fourth quarter. Northern Trust Corp now owns 446,526 shares of the software maker's stock valued at $67,917,000 after buying an additional 63,200 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Insight Enterprises in the 4th quarter worth about $57,380,000. Finally, Norges Bank purchased a new stake in Insight Enterprises during the 4th quarter valued at $47,585,000.

Insight Enterprises Price Performance

Insight Enterprises stock traded down $1.33 during midday trading on Thursday, hitting $134.39. The company's stock had a trading volume of 75,956 shares, compared to its average volume of 317,882. The stock's 50-day moving average price is $141.54 and its 200-day moving average price is $155.29. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.29 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.37 earnings per share. Analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NSIT shares. JPMorgan Chase & Co. dropped their price target on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company 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 report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Insight Enterprises has an average rating of "Hold" and a consensus price target of $185.00.

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.