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

Hennessy Advisors Inc. reduced its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 235,100 shares of the software maker's stock after selling 22,900 shares during the period. Insight Enterprises accounts for about 1.2% of Hennessy Advisors Inc.'s holdings, making the stock its 26th biggest holding. Hennessy Advisors Inc. owned 0.74% of Insight Enterprises worth $35,263,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after acquiring an additional 63 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock valued at $37,000 after buying an additional 71 shares in the last quarter. Cornerstone Investment Partners LLC increased its holdings in shares of Insight Enterprises by 5.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker's stock valued at $209,000 after purchasing an additional 75 shares during the period. Parallel Advisors LLC raised its holdings in shares of Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after acquiring an additional 95 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake 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 buying an additional 138 shares in the last quarter.

Insight Enterprises Stock Up 1.3%

Shares of NASDAQ:NSIT traded up $1.69 during midday trading on Tuesday, hitting $133.41. The stock had a trading volume of 304,330 shares, compared to its average volume of 327,404. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.26 billion, a P/E ratio of 20.46, a PEG ratio of 1.40 and a beta of 1.20. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The business's 50-day simple moving average is $134.36 and its 200-day simple moving average is $149.89.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last announced its earnings results on Thursday, May 1st. The software maker reported $2.06 EPS 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 net margin of 2.87% and a return on equity of 18.95%. The business's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the firm earned $2.37 earnings per share. On average, sell-side analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NSIT shares. JPMorgan Chase & Co. lowered 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 note on Thursday, April 17th. Barrington Research restated an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $185.00.

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.