Natixis Advisors LLC Reduces Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Natixis Advisors LLC reduced its stake in Insight Enterprises by 12.1%, owning $9.44 million in shares after selling 8,631 shares during the 1st quarter.
• Other institutional investors increased their positions significantly, with GAMMA Investing LLC raising its stake by 42,674.8% during the same period and now owning shares valued at approximately $259.84 million.
• Insight Enterprises reported $2.45 earnings per share for the quarter, missing expectations, and saw a year-over-year revenue decline of 3.3%. Analysts project the company to post 9.89 EPS for the current fiscal year.

Natixis Advisors LLC lessened its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,907 shares of the software maker's stock after selling 8,631 shares during the period. Natixis Advisors LLC owned about 0.20% of Insight Enterprises worth $9,436,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Insight Enterprises in the 1st quarter valued at approximately $27,000. Bessemer Group Inc. boosted its stake in shares of Insight Enterprises by 79.2% in the 1st 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. NewEdge Advisors LLC boosted its stake in shares of Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock worth $39,000 after buying an additional 63 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Insight Enterprises by 40.4% in the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after buying an additional 95 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Insight Enterprises by 100.5% in the 1st quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock worth $63,000 after buying an additional 210 shares during the last quarter.

Analysts Set New Price Targets

NSIT has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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, July 17th. Barrington Research reaffirmed an "outperform" rating and issued a $164.00 target price on shares of Insight Enterprises in a report on Monday, July 21st.

Insight Enterprises Stock Performance

Insight Enterprises stock traded up $5.13 during trading on Friday, reaching $122.38. The company had a trading volume of 178,162 shares, compared to its average volume of 362,375. Insight Enterprises, Inc. has a 52 week low of $115.68 and a 52 week 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 firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 1.08 and a beta of 1.21. The firm's 50-day simple moving average is $135.74 and its 200 day simple moving average is $144.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The business had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter 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. Sell-side analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

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.