Allspring Global Investments Holdings LLC Increases Stock Holdings in Insight Enterprises, Inc. $NSIT

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Insight Enterprises by 23.2%, acquiring an additional 27,131 shares, bringing its total holdings to 144,037 shares valued at approximately $20.4 million.
• Insight Enterprises reported a quarterly earnings per share of $2.45, falling short of analysts' expectations of $2.49, with revenues also below estimates at $2.09 billion.
• Analysts have mixed sentiments on the stock, with a consensus rating of "Moderate Buy" and a target price averaging around $183.00, indicating potential upside from current levels.

Allspring Global Investments Holdings LLC boosted its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 23.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 144,037 shares of the software maker's stock after acquiring an additional 27,131 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.45% of Insight Enterprises worth $20,424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings 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. Xponance Inc. lifted its holdings 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 buying an additional 94 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Insight Enterprises by 1.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,069 shares of the software maker's stock valued at $1,114,000 after buying an additional 110 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Insight Enterprises by 8.0% in the 1st quarter. Evergreen Capital Management LLC now owns 2,102 shares of the software maker's stock valued at $315,000 after buying an additional 156 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Insight Enterprises by 14.3% in the 1st quarter. Verdence Capital Advisors LLC now owns 1,603 shares of the software maker's stock valued at $240,000 after buying an additional 200 shares during the period.

Insight Enterprises Stock Performance

NASDAQ NSIT opened at $108.76 on Friday. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 0.99 and a beta of 1.13. Insight Enterprises, Inc. has a twelve month low of $105.78 and a twelve month high of $224.51. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $121.20 and a 200 day moving average of $130.54.

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 for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%.The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. Insight Enterprises has set its FY 2025 guidance at 9.700-10.10 EPS. Sell-side analysts anticipate that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Analyst Ratings Changes

NSIT has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Insight Enterprises in a report on Wednesday, October 8th. Barrington Research reissued an "outperform" rating and issued a $164.00 price objective on shares of Insight Enterprises in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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.

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