Entropy Technologies LP Sells 3,500 Shares of Insight Enterprises, Inc. $NSIT

Key Points

• Entropy Technologies LP has reduced its stake in Insight Enterprises by 48.8%, now owning 3,674 shares valued at $551,000.
• Despite a decline in quarterly earnings and revenue, Wall Street analysts maintain positive outlooks, with Barrington Research rating the stock as "outperform" and setting a target price of $164.00.
• Insight Enterprises' stock trading increased by 4.5%, with current trading prices around $134.24 and a market cap of $4.22 billion.

Entropy Technologies LP reduced its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 48.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,674 shares of the software maker's stock after selling 3,500 shares during the period. Entropy Technologies LP's holdings in Insight Enterprises were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in Insight Enterprises by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 52,362 shares of the software maker's stock valued at $7,964,000 after purchasing an additional 10,827 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Insight Enterprises by 16.6% during the fourth quarter. Russell Investments Group Ltd. now owns 9,518 shares of the software maker's stock valued at $1,448,000 after purchasing an additional 1,358 shares during the last quarter. Bank of Montreal Can boosted its position in Insight Enterprises by 4.3% during the fourth quarter. Bank of Montreal Can now owns 4,993 shares of the software maker's stock valued at $759,000 after purchasing an additional 204 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Insight Enterprises during the fourth quarter valued at approximately $532,000. Finally, Barclays PLC boosted its position in Insight Enterprises by 8.5% during the fourth quarter. Barclays PLC now owns 61,183 shares of the software maker's stock valued at $9,307,000 after purchasing an additional 4,781 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently commented on NSIT shares. Barrington Research reissued an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price objective on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th.

Insight Enterprises Stock Performance

NASDAQ:NSIT traded up $1.05 on Monday, hitting $131.12. The company's stock had a trading volume of 107,103 shares, compared to its average volume of 362,159. 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 fifty day moving average of $135.48 and a two-hundred day moving average of $142.25. The firm has a market capitalization of $4.13 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21. Insight Enterprises, Inc. has a one year low of $115.68 and a one year high of $225.38.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.15 billion. Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. Insight Enterprises's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Research analysts predict that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

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.