Bank of New York Mellon Corp Cuts Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Bank of New York Mellon Corp decreased its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,413 shares of the software maker's stock after selling 39,425 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of Insight Enterprises worth $33,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NSIT. Massachusetts Financial Services Co. MA bought a new position in Insight Enterprises during the 4th quarter valued at about $57,380,000. Norges Bank acquired a new stake in Insight Enterprises in the fourth quarter worth $47,585,000. GAMMA Investing LLC boosted its position in shares of Insight Enterprises by 42,674.8% during the first quarter. GAMMA Investing LLC now owns 173,238 shares of the software maker's stock worth $259,840,000 after purchasing an additional 172,833 shares in the last quarter. Wellington Management Group LLP increased its position 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 valued at $41,188,000 after buying an additional 107,397 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Insight Enterprises in the fourth quarter valued at approximately $15,220,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NSIT. JPMorgan Chase & Co. dropped their price objective on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barrington Research restated an "outperform" rating and issued a $164.00 price target on shares of Insight Enterprises in a research note on Tuesday, May 20th.

Insight Enterprises Price Performance

NASDAQ:NSIT traded up $2.52 during trading hours on Thursday, hitting $140.48. The company's stock had a trading volume of 115,404 shares, compared to its average volume of 363,200. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $4.49 billion, a P/E ratio of 28.10, a PEG ratio of 1.27 and a beta of 1.20. Insight Enterprises, Inc. has a twelve month low of $126.10 and a twelve month high of $228.07. The stock has a fifty day simple moving average of $135.94 and a 200-day simple moving average of $147.05.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.19 billion. Insight Enterprises had a return on equity of 18.50% and a net margin of 2.26%. The business's quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.37 earnings per share. On average, analysts anticipate that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal 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.