Equitable Trust Co. Boosts Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Equitable Trust Co. increased its holdings in Insight Enterprises by 33.7%, owning 7,000 shares valued at approximately $1,050,000 as of the latest SEC filing.
• Several institutional investors, including Massachusetts Financial Services Co. MA, boosted their stakes in Insight Enterprises, with the company experiencing growth in investments during the first quarter.
• Insight Enterprises reported $2.06 EPS in its latest quarter, exceeding estimates but showing a 11.6% year-over-year revenue decline with total revenue of $2.10 billion.

Equitable Trust Co. boosted its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,000 shares of the software maker's stock after purchasing an additional 1,763 shares during the quarter. Equitable Trust Co.'s holdings in Insight Enterprises were worth $1,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSIT. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the first quarter valued at approximately $27,000. Bessemer Group Inc. grew its stake in Insight Enterprises by 79.2% during the first quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after acquiring an additional 84 shares in the last quarter. NewEdge Advisors LLC grew its stake in Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after acquiring an additional 63 shares in the last quarter. Parallel Advisors LLC lifted its position in Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after purchasing an additional 95 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Insight Enterprises by 100.5% during the first quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock valued at $63,000 after purchasing an additional 210 shares during the last quarter.

Wall Street Analyst Weigh In

NSIT has been the subject of several research reports. Barrington Research reiterated an "outperform" rating and set a $164.00 price objective on shares of Insight Enterprises in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their target price on shares of Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th.

Insight Enterprises Stock Up 0.6%

Shares of Insight Enterprises stock traded up $0.85 on Wednesday, reaching $147.51. The stock had a trading volume of 51,560 shares, compared to its average volume of 352,268. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.60. Insight Enterprises, Inc. has a 1 year low of $126.10 and a 1 year high of $228.07. The company has a 50 day moving average price of $137.30 and a 200 day moving average price of $146.39. The stock has a market capitalization of $4.71 billion, a P/E ratio of 29.50, a P/E/G ratio of 1.34 and a beta of 1.20.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.03. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the prior year, the business posted $2.37 earnings per share. The firm's revenue for the quarter was down 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS 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.