Jefferies Financial Group Inc. Buys New Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Jefferies Financial Group Inc. invested $396,000 in Insight Enterprises, purchasing 2,642 shares of the software company during the first quarter.
• Insight Enterprises' shares experienced a 5.0% increase in trading, reaching a price of $123.13, with a market capitalization of $3.87 billion.
• The company reported earnings of $2.45 per share for the last quarter, missing estimates, with quarterly revenue down 3.3% year-over-year.

Jefferies Financial Group Inc. bought a new position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,642 shares of the software maker's stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSIT. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the 1st quarter valued at approximately $27,000. Bessemer Group Inc. grew its holdings in Insight Enterprises by 79.2% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after buying an additional 84 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Insight Enterprises by 32.8% during the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after buying an additional 63 shares in the last quarter. Parallel Advisors LLC grew its holdings in Insight Enterprises by 40.4% during the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after buying an additional 95 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Insight Enterprises by 100.5% during the 1st quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock valued at $63,000 after buying an additional 210 shares in the last quarter.

Insight Enterprises Price Performance

Shares of NSIT stock traded up $5.54 on Tuesday, reaching $129.36. The company's stock had a trading volume of 65,651 shares, compared to its average volume of 362,874. The stock's fifty day simple moving average is $135.52 and its 200-day simple moving average is $143.39. Insight Enterprises, Inc. has a 1 year low of $115.68 and a 1 year high of $225.38. 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 $4.07 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21.

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

Wall Street Analyst Weigh In

NSIT has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research note on Monday, July 21st. JPMorgan Chase & Co. increased 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.

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.