Hennessy Advisors Inc. Sells 22,900 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Hennessy Advisors Inc. decreased its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,100 shares of the software maker's stock after selling 22,900 shares during the period. Insight Enterprises comprises 1.2% of Hennessy Advisors Inc.'s portfolio, making the stock its 26th biggest holding. Hennessy Advisors Inc. owned about 0.74% of Insight Enterprises worth $35,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSIT. Allspring Global Investments Holdings LLC boosted its stake in Insight Enterprises by 207.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 103,926 shares of the software maker's stock worth $15,522,000 after purchasing an additional 70,134 shares during the period. Rhumbline Advisers raised its holdings in Insight Enterprises by 2.4% in the 4th quarter. Rhumbline Advisers now owns 82,198 shares of the software maker's stock valued at $12,502,000 after acquiring an additional 1,925 shares during the period. Palouse Capital Management Inc. acquired a new position in shares of Insight Enterprises during the 4th quarter worth approximately $179,000. State of New Jersey Common Pension Fund D grew its position in shares of Insight Enterprises by 42.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 14,031 shares of the software maker's stock worth $2,134,000 after purchasing an additional 4,155 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Insight Enterprises by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker's stock worth $21,833,000 after acquiring an additional 1,653 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NSIT shares. Barrington Research reaffirmed an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $185.00.

Insight Enterprises Trading Down 2.4%

NSIT stock traded down $3.17 during trading on Friday, hitting $131.05. 266,017 shares of the company traded hands, compared to its average volume of 327,676. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. The firm has a market capitalization of $4.18 billion, a PE ratio of 20.10, a P/E/G ratio of 1.40 and a beta of 1.20. 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 of $134.29 and a 200-day moving average of $150.07.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $2.03 by $0.03. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the business posted $2.37 earnings per share. Insight Enterprises's quarterly revenue was down 11.6% compared to the same quarter last year. Analysts predict that Insight Enterprises, Inc. will post 9.89 earnings per share 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.