Allspring Global Investments Holdings LLC Boosts Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Allspring Global Investments Holdings LLC grew its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,906 shares of the software maker's stock after buying an additional 12,980 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.37% of Insight Enterprises worth $17,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NSIT. Opal Wealth Advisors LLC purchased a new position in Insight Enterprises in the first quarter valued at $27,000. Bessemer Group Inc. boosted its stake in shares of Insight Enterprises by 79.2% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after buying an additional 84 shares during the period. J.Safra Asset Management Corp grew its position 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 worth $37,000 after buying an additional 71 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock worth $39,000 after buying an additional 63 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Insight Enterprises by 40.4% in the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after acquiring an additional 95 shares in the last quarter.

Insight Enterprises Stock Up 0.8%

Insight Enterprises stock traded up $1.10 during mid-day trading on Friday, hitting $143.86. The company had a trading volume of 273,504 shares, compared to its average volume of 334,510. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.60. Insight Enterprises, Inc. has a 1 year low of $126.10 and a 1 year high of $228.07. The business has a fifty day moving average of $134.93 and a 200 day moving average of $147.65. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.33 and a beta of 1.20.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued 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. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the prior year, the business posted $2.37 EPS. The company's revenue for the quarter was down 11.6% on a year-over-year basis. On average, sell-side analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

NSIT has been the subject of several analyst reports. Barrington Research reiterated an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

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.