Allianz Asset Management GmbH Has $1.23 Million Position 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 cut its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Several other large investors also recently modified their holdings of NSIT. NewEdge Advisors LLC increased its stake in shares of Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after purchasing an additional 63 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Insight Enterprises by 79.2% in the first quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock worth $29,000 after acquiring an additional 84 shares during the last quarter. Xponance Inc. boosted its stake in shares of Insight Enterprises by 4.3% in the 1st quarter. Xponance Inc. now owns 2,278 shares of the software maker's stock valued at $342,000 after purchasing an additional 94 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Insight Enterprises by 40.4% during the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after purchasing an additional 95 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Insight Enterprises by 4.0% during the 4th quarter. Quantinno Capital Management LP now owns 3,594 shares of the software maker's stock worth $547,000 after purchasing an additional 138 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NSIT. JPMorgan Chase & Co. boosted their target price on shares of Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barrington Research reiterated an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a report on Monday, July 21st.

Insight Enterprises Trading Up 1.5%

Shares of NASDAQ NSIT traded up $1.82 during trading on Friday, reaching $120.40. The company had a trading volume of 665,084 shares, compared to its average volume of 255,160. The company's fifty day moving average price is $136.99 and its 200-day moving average price is $145.80. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market cap of $3.84 billion, a P/E ratio of 28.74, a PEG ratio of 1.09 and a beta of 1.20. Insight Enterprises, Inc. has a 12 month low of $118.30 and a 12 month high of $225.38.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.49 by ($0.04). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter 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. As a group, research analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

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.