Bank of America Corp DE Takes Position in Insight Enterprises, Inc. $NSIT

Key Points

• Bank of America acquired 300,844 shares of Insight Enterprises during the second quarter, valued at approximately $36.6 million and representing about 1.03% of the company.
• Insight Enterprises exceeded quarterly expectations, reporting $3.86 in EPS versus a $2.93 consensus estimate and $2.40 billion in revenue, up 14.7% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $147.50; shares recently opened at $156.70.

Bank of America Corp DE acquired a new position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 300,844 shares of the software maker's stock, valued at approximately $36,643,000. Bank of America Corp DE owned about 1.03% of Insight Enterprises as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Insight Enterprises by 40.3% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 592 shares of the software maker's stock worth $48,000 after acquiring an additional 170 shares in the last quarter. Covestor Ltd increased its holdings in shares of Insight Enterprises by 32.2% during the fourth quarter. Covestor Ltd now owns 879 shares of the software maker's stock valued at $72,000 after acquiring an additional 214 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Insight Enterprises by 172.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 582 shares of the software maker's stock valued at $47,000 after purchasing an additional 368 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Insight Enterprises by 14.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,674 shares of the software maker's stock valued at $313,000 after purchasing an additional 596 shares during the last quarter. Finally, Equitable Trust Co. boosted its stake in Insight Enterprises by 6.3% in the 1st quarter. Equitable Trust Co. now owns 10,303 shares of the software maker's stock worth $690,000 after purchasing an additional 613 shares in the last quarter.

Insider Transactions at Insight Enterprises

In other news, General Counsel Karim Adatia sold 248 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $157.40, for a total value of $39,035.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NSIT has been the subject of a number of research analyst reports. Wall Street Zen lowered Insight Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. Weiss Ratings upgraded Insight Enterprises from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Barrington Research set a $180.00 price objective on Insight Enterprises in a report on Monday, August 10th. Raymond James Financial restated an "outperform" rating and issued a $175.00 price objective on shares of Insight Enterprises in a research note on Thursday, August 6th. Finally, Needham & Company LLC raised Insight Enterprises to an "overweight" rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $147.50.

Insight Enterprises Stock Performance

NSIT opened at $156.70 on Tuesday. The firm has a fifty day moving average price of $143.79 and a 200 day moving average price of $109.42. Insight Enterprises, Inc. has a 1 year low of $63.62 and a 1 year high of $168.50. The stock has a market cap of $4.60 billion, a P/E ratio of 22.94, a P/E/G ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.18 and a quick ratio of 1.15.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $3.86 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.93. The business had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.18 billion. Insight Enterprises had a return on equity of 22.70% and a net margin of 2.45%.The business's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 earnings per share. Insight Enterprises has set its FY 2026 guidance at 12.200-12.700 EPS. Equities research analysts anticipate that Insight Enterprises, Inc. will post 11.5 earnings per share for the current year.

About Insight Enterprises

Insight Enterprises, Inc is a global technology solutions and services provider that helps organizations select, deploy and manage information technology. The company serves businesses, government agencies and educational institutions, providing technology products and expertise across the IT lifecycle.

Its offerings include hardware, software and cloud solutions, along with consulting, systems integration, managed services, data and artificial intelligence solutions, cybersecurity, digital transformation and modern workplace services.

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