Martingale Asset Management L P Reduces Position in Insight Enterprises, Inc. $NSIT

Key Points

• Martingale Asset Management L P reduced its stake in Insight Enterprises by 19.3% in the first quarter, retaining 12,310 shares valued at approximately $1.846 million.
• Analyst ratings for Insight Enterprises indicate a consensus of "Moderate Buy" with the average target price set at $183.00, following recent adjustments by firms like JPMorgan Chase.
• Despite a quarterly earnings miss, with an EPS of $2.45 against estimates of $2.49, Insight Enterprises has projected FY 2025 guidance between $9.70 to $10.10 EPS.

Martingale Asset Management L P trimmed its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,310 shares of the software maker's stock after selling 2,953 shares during the quarter. Martingale Asset Management L P's holdings in Insight Enterprises were worth $1,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Insight Enterprises during the fourth quarter valued at approximately $532,000. Mariner LLC raised its position in Insight Enterprises by 12.9% during the fourth quarter. Mariner LLC now owns 3,970 shares of the software maker's stock valued at $604,000 after acquiring an additional 454 shares in the last quarter. NewEdge Advisors LLC raised its position in Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after acquiring an additional 63 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Insight Enterprises during the fourth quarter valued at approximately $122,000. Finally, Dimensional Fund Advisors LP raised its position in Insight Enterprises by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker's stock valued at $124,934,000 after acquiring an additional 2,944 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barrington Research reiterated 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. lifted their price target on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Insight Enterprises has a consensus rating of "Moderate Buy" and a consensus price target of $183.00.

Insight Enterprises Trading Up 0.4%

Insight Enterprises stock traded up $0.48 during midday trading on Thursday, reaching $129.20. The stock had a trading volume of 80,832 shares, compared to its average volume of 363,199. Insight Enterprises, Inc. has a twelve month low of $115.68 and a twelve month high of $225.38. The stock has a market capitalization of $4.07 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.26 and a current ratio of 1.29. The stock's 50-day simple moving average is $134.93 and its 200 day simple moving average is $140.39.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued 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). The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. Insight Enterprises's revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Insight Enterprises has set its FY 2025 guidance at 9.700-10.10 EPS. Analysts expect that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

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.