Penobscot Investment Management Company Inc. Grows Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Penobscot Investment Management Company Inc. boosted its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 241.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,127 shares of the software maker's stock after purchasing an additional 9,287 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Insight Enterprises were worth $1,969,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC increased 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 during the last quarter. J.Safra Asset Management Corp increased its position in Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock valued at $37,000 after acquiring an additional 71 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in Insight Enterprises by 5.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker's stock valued at $209,000 after acquiring an additional 75 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of 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 purchasing an additional 84 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Insight Enterprises by 40.4% in the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after purchasing an additional 95 shares during the last quarter.

Insight Enterprises Trading Down 0.9%

NASDAQ NSIT opened at $134.60 on Thursday. The company's 50-day moving average price is $134.12 and its 200-day moving average price is $148.74. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.30 billion, a PE ratio of 26.92, a PEG ratio of 1.26 and a beta of 1.20. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07.

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, 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 company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the prior year, the business earned $2.37 EPS. The firm's quarterly revenue was down 11.6% on a year-over-year basis. Equities research analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NSIT shares. JPMorgan Chase & Co. cut their price target on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barrington Research restated an "outperform" rating and issued a $164.00 price target on shares of Insight Enterprises in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $185.00.

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.

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