Strs Ohio Acquires New Stake in Insight Enterprises, Inc. $NSIT

Key Points

• Strs Ohio acquired 7,900 shares of Insight Enterprises, Inc. for approximately $1.185 million during the 1st quarter, marking a significant investment in the software maker's stock.
• Insight Enterprises reported $2.45 earnings per share (EPS) for its latest quarter, which was below analysts' expectations of $2.49, while revenue decreased by 3.3% year-over-year.
• JPMorgan Chase & Co. raised its target price for Insight Enterprises from $152 to $165 and maintained a "neutral" rating, indicating cautious optimism as the stock has a consensus rating of "Moderate Buy."

Strs Ohio bought a new stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,900 shares of the software maker's stock, valued at approximately $1,185,000.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Insight Enterprises during the 1st quarter valued at approximately $27,000. Bessemer Group Inc. increased its holdings in Insight Enterprises by 79.2% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock worth $29,000 after acquiring an additional 84 shares in the last quarter. Parallel Advisors LLC raised its position in Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after acquiring an additional 95 shares during the period. Golden State Wealth Management LLC raised its position in Insight Enterprises by 100.5% during the first quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock worth $63,000 after acquiring an additional 210 shares during the period. Finally, Covestor Ltd raised its position in Insight Enterprises by 68.1% during the first quarter. Covestor Ltd now owns 580 shares of the software maker's stock worth $87,000 after acquiring an additional 235 shares during the period.

Insight Enterprises Stock Down 0.9%

NSIT stock traded down $1.07 during midday trading on Friday, reaching $119.07. 1,831,285 shares of the company were exchanged, compared to its average volume of 303,117. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.26 and a current ratio of 1.29. Insight Enterprises, Inc. has a 1-year low of $115.68 and a 1-year high of $225.38. The stock's 50-day simple moving average is $130.22 and its 200 day simple moving average is $136.22. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%.The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $2.46 EPS. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. Insight Enterprises has set its FY 2025 guidance at 9.700-10.10 EPS. On average, equities analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barrington Research restated an "outperform" rating and set a $164.00 price objective on shares of Insight Enterprises in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on shares of Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.00.

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.