NorthCrest Asset Manangement LLC Sells 3,003 Shares of Insight Enterprises, Inc. $NSIT

Key Points

• NorthCrest Asset Management LLC reduced its stake in Insight Enterprises by 29.1%, owning 7,309 shares valued at approximately $1.05 million after selling 3,003 shares.
• Insight Enterprises reported a quarterly earnings of $2.45 per share, missing estimates by $0.04, and its revenue dropped 3.3% year-over-year to $2.09 billion.
• Analysts maintain a Moderate Buy rating for Insight Enterprises, with an average target price of $183.00, despite recent changes in investment positions among institutional investors.

NorthCrest Asset Manangement LLC cut its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 29.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,309 shares of the software maker's stock after selling 3,003 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Insight Enterprises were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NSIT. Massachusetts Financial Services Co. MA grew its holdings in Insight Enterprises by 48.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 558,356 shares of the software maker's stock worth $83,748,000 after acquiring an additional 181,104 shares during the last quarter. GAMMA Investing LLC grew its holdings in Insight Enterprises by 42,674.8% during the 1st quarter. GAMMA Investing LLC now owns 173,238 shares of the software maker's stock worth $259,840,000 after acquiring an additional 172,833 shares during the last quarter. Fiduciary Management Inc. WI grew its holdings in Insight Enterprises by 17.1% during the 1st quarter. Fiduciary Management Inc. WI now owns 949,243 shares of the software maker's stock worth $142,377,000 after acquiring an additional 138,914 shares during the last quarter. Wellington Management Group LLP grew its holdings in Insight Enterprises by 65.7% during the 4th quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock worth $41,188,000 after acquiring an additional 107,397 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Insight Enterprises during the 1st quarter worth approximately $13,891,000.

Insight Enterprises Stock Performance

NSIT traded down $1.07 during trading on Friday, hitting $119.07. 1,831,285 shares of the company traded hands, compared to its average volume of 303,117. The firm has a market cap of $3.75 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. The stock's fifty day moving average is $130.22 and its 200 day moving average is $136.09. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Insight Enterprises, Inc. has a one year low of $115.68 and a one year high of $225.38.

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 for the quarter, missing the consensus estimate of $2.49 by ($0.04). The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. Insight Enterprises's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. Insight Enterprises has set its FY 2025 guidance at 9.700-10.10 EPS. As a group, equities analysts predict that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barrington Research reissued an "outperform" rating and set a $164.00 target price on shares of Insight Enterprises in a report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on shares of Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Insight Enterprises has an average rating of "Moderate Buy" and a consensus price target of $183.00.

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.