Insight Enterprises, Inc. (NASDAQ:NSIT) Stake Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 48.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 558,356 shares of the software maker's stock after acquiring an additional 181,104 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.75% of Insight Enterprises worth $83,748,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions 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 worth $29,000 after buying an additional 84 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Insight Enterprises in the first quarter worth approximately $952,000. WCM Investment Management LLC grew its position in Insight Enterprises by 60.9% in the first quarter. WCM Investment Management LLC now owns 114,047 shares of the software maker's stock worth $17,406,000 after buying an additional 43,186 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Insight Enterprises in the fourth quarter worth approximately $532,000. Finally, TT International Asset Management LTD acquired a new position in Insight Enterprises in the first quarter worth approximately $3,705,000.

Insight Enterprises Trading Down 1.3%

NASDAQ NSIT traded down $1.86 on Friday, hitting $139.39. 230,396 shares of the stock were exchanged, compared to its average volume of 338,375. Insight Enterprises, Inc. has a 52-week low of $126.10 and a 52-week high of $228.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.29 and a beta of 1.20. The company's 50-day moving average price is $136.16 and its two-hundred day moving average price is $146.87.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.03. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the previous year, the company posted $2.37 EPS. The company's quarterly revenue was down 11.6% compared to the same quarter last year. Research analysts predict that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NSIT. Barrington Research reissued an "outperform" rating and issued a $164.00 price target on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a research note on Thursday.

Insight Enterprises Company 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.