Public Sector Pension Investment Board Acquires 18,584 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• The Public Sector Pension Investment Board increased its stake in Insight Enterprises by 27.3% during the first quarter, acquiring 18,584 shares for a total of approximately $12.99 million.
• Insight Enterprises reported a net margin of 1.79% and revenue decline of 3.3% year-over-year, with earnings per share of $2.45, missing expectations.
• Analysts have raised their price targets for Insight Enterprises, with JPMorgan increasing it from $152.00 to $165.00 and maintaining a "neutral" rating.

Public Sector Pension Investment Board grew its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,668 shares of the software maker's stock after buying an additional 18,584 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.27% of Insight Enterprises worth $12,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSIT. Bessemer Group Inc. grew its position in Insight Enterprises by 79.2% in 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 during the period. Janney Montgomery Scott LLC acquired a new position in shares of Insight Enterprises during the first quarter valued at $952,000. WCM Investment Management LLC lifted its stake in shares of Insight Enterprises by 60.9% during the first quarter. WCM Investment Management LLC now owns 114,047 shares of the software maker's stock valued at $17,406,000 after acquiring an additional 43,186 shares during the period. TT International Asset Management LTD acquired a new position in Insight Enterprises in the first quarter valued at about $3,705,000. Finally, Penobscot Investment Management Company Inc. lifted its stake in Insight Enterprises by 241.8% in the first quarter. Penobscot Investment Management Company Inc. now owns 13,127 shares of the software maker's stock valued at $1,969,000 after buying an additional 9,287 shares during the period.

Insight Enterprises Price Performance

NSIT traded down $2.57 on Friday, reaching $130.07. The stock had a trading volume of 333,465 shares, compared to its average volume of 359,684. Insight Enterprises, Inc. has a fifty-two week low of $115.68 and a fifty-two week high of $225.38. The firm has a 50-day moving average of $135.48 and a 200-day moving average of $142.47. 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 company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.04). Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the company posted $2.46 EPS. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NSIT. Barrington Research reaffirmed 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. raised their price target 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 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.