Pacer Advisors Inc. Has $42.89 Million Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Pacer Advisors Inc. reduced its stake in Insight Enterprises, Inc. by 73.4%, selling 787,334 shares and now owning 285,928 shares valued at approximately $42.9 million.
• Other institutional investors, such as Massachusetts Financial Services and Wellington Management Group, significantly increased their holdings in the company, indicating continued interest in Insight Enterprises.
• Analysts have positively revised their price targets for Insight Enterprises, with JPMorgan raising their objective from $152 to $165 and Barrington Research maintaining an "outperform" rating with a price target of $164.

Pacer Advisors Inc. trimmed its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 73.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,928 shares of the software maker's stock after selling 787,334 shares during the quarter. Pacer Advisors Inc. owned 0.90% of Insight Enterprises worth $42,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSIT. Dimensional Fund Advisors LP grew its position in shares of Insight Enterprises by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker's stock valued at $124,934,000 after purchasing an additional 2,944 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 in the last quarter. Northern Trust Corp boosted its stake in shares of Insight Enterprises by 16.5% during the 4th quarter. Northern Trust Corp now owns 446,526 shares of the software maker's stock worth $67,917,000 after acquiring an additional 63,200 shares in the last quarter. Norges Bank acquired a new position in shares of Insight Enterprises during the 4th quarter worth approximately $47,585,000. Finally, Wellington Management Group LLP boosted its position 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 purchasing an additional 107,397 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on NSIT shares. Barrington Research reiterated an "outperform" rating and set a $164.00 target price on shares of Insight Enterprises in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target 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.

Insight Enterprises Price Performance

NSIT stock traded up $0.23 during midday trading on Wednesday, hitting $146.89. The company's stock had a trading volume of 39,054 shares, compared to its average volume of 352,173. The company has a 50 day moving average of $137.30 and a two-hundred day moving average of $146.39. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.20. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.60.

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

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.