Allianz Asset Management GmbH Has $1.23 Million Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Allianz Asset Management GmbH reduced its stake in Insight Enterprises by 21.7% in Q1, owning 8,169 shares valued at approximately $1.23 million.
• In recent analyst reports, JPMorgan Chase & Co. raised its target price for Insight Enterprises from $152 to $165, maintaining a "neutral" rating.
• Insight Enterprises reported Q2 earnings of $2.45 EPS, missing expectations by $0.04, with a revenue of $2.09 billion, down 3.3% year-over-year.

Allianz Asset Management GmbH lowered its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,169 shares of the software maker's stock after selling 2,267 shares during the quarter. Allianz Asset Management GmbH's holdings in Insight Enterprises were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of 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 last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Insight Enterprises by 48.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 558,356 shares of the software maker's stock valued at $83,748,000 after acquiring an additional 181,104 shares during the period. Northern Trust Corp boosted its holdings in Insight Enterprises by 16.5% during the 4th quarter. Northern Trust Corp now owns 446,526 shares of the software maker's stock valued at $67,917,000 after acquiring an additional 63,200 shares during the period. Norges Bank purchased a new stake in shares of Insight Enterprises in the 4th quarter worth $47,585,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Insight Enterprises by 65.7% in the 4th 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 during the period.

Insight Enterprises Stock Performance

NSIT traded down $0.98 on Monday, hitting $119.43. 222,501 shares of the company traded hands, compared to its average volume of 360,563. The stock has a market capitalization of $3.76 billion, a PE ratio of 28.49, a PEG ratio of 1.11 and a beta of 1.21. The company has a 50 day moving average of $136.99 and a 200-day moving average of $145.53. Insight Enterprises, Inc. has a 12-month low of $117.33 and a 12-month high of $225.38. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the company posted $2.46 EPS. Insight Enterprises's quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NSIT shares. JPMorgan Chase & Co. upped their target price on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barrington Research reiterated an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research report on Monday, July 21st.

About Insight Enterprises

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.