Insight Enterprises, Inc. (NASDAQ:NSIT) Position Trimmed by Entropy Technologies LP

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 lowered its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 48.8% in the 1st quarter, according to its most recent 13F filing with the 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.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of Insight Enterprises by 32.8% in 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 last quarter. Bessemer Group Inc. grew 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. 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 worth $342,000 after acquiring an additional 94 shares during the last quarter. Parallel Advisors LLC increased its stake in Insight Enterprises by 40.4% during the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after buying an additional 95 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Insight Enterprises by 4.0% in the 4th quarter. Quantinno Capital Management LP now owns 3,594 shares of the software maker's stock valued at $547,000 after purchasing an additional 138 shares during the last quarter.

Insight Enterprises Trading Down 1.9%

NSIT stock traded down $2.57 during midday trading on Friday, reaching $130.07. 333,465 shares of the company's stock traded hands, compared to its average volume of 359,684. The business has a 50-day moving average price of $135.48 and a two-hundred day moving average price of $142.67. Insight Enterprises, Inc. has a fifty-two week low of $115.68 and a fifty-two week high of $225.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.26. The company has a market capitalization of $4.09 billion, a P/E ratio of 31.04, a PEG ratio of 1.22 and a beta of 1.21.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NSIT. JPMorgan Chase & Co. increased their price target on shares of Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barrington Research reissued an "outperform" rating and issued a $164.00 target price on shares of Insight Enterprises in a research report on Monday, July 21st.

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.