Penobscot Investment Management Company Inc. Purchases 9,287 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

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

Several other large investors have also recently added to or reduced their stakes in NSIT. Bank of New York Mellon Corp raised its holdings in Insight Enterprises by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 260,838 shares of the software maker's stock valued at $39,674,000 after acquiring an additional 21,876 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Insight Enterprises by 61.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 25,410 shares of the software maker's stock valued at $3,865,000 after purchasing an additional 9,647 shares during the period. New York Life Investment Management LLC bought a new stake in shares of Insight Enterprises in the 4th quarter valued at approximately $449,000. Smartleaf Asset Management LLC grew its stake in shares of Insight Enterprises by 287.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker's stock valued at $76,000 after purchasing an additional 374 shares during the period. Finally, Cornerstone Investment Partners LLC grew its stake in shares of Insight Enterprises by 5.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker's stock valued at $209,000 after purchasing an additional 75 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NSIT shares. Barrington Research reiterated an "outperform" rating and issued a $164.00 price objective on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price target on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $185.00.

Insight Enterprises Trading Down 0.6%

Insight Enterprises stock traded down $0.76 during mid-day trading on Friday, hitting $135.03. 839,573 shares of the company's stock were exchanged, compared to its average volume of 330,847. The firm has a market capitalization of $4.31 billion, a P/E ratio of 27.01, a PEG ratio of 1.25 and a beta of 1.20. Insight Enterprises, Inc. has a fifty-two week low of $126.10 and a fifty-two week high of $228.07. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.60. The company's 50 day simple moving average is $134.20 and its 200-day simple moving average is $148.17.

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