Royce & Associates LP Sells 5,128 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Royce & Associates LP reduced its stake in Insight Enterprises by 27.9%, now holding 13,257 shares valued at approximately $1.99 million.
• Insight Enterprises reported $2.06 earnings per share for its recent quarter, surpassing expectations, but experienced a 11.6% revenue decline year-over-year.
• Equities analysts have set new price targets for Insight Enterprises, with JPMorgan Chase raising it from $152.00 to $165.00 and maintaining a "neutral" rating.

Royce & Associates LP cut its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 27.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,257 shares of the software maker's stock after selling 5,128 shares during the quarter. Royce & Associates LP's holdings in Insight Enterprises were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Insight Enterprises in the first quarter worth about $1,808,000. Forte Capital LLC ADV grew its stake in shares of Insight Enterprises by 46.0% in the first quarter. Forte Capital LLC ADV now owns 20,122 shares of the software maker's stock worth $3,018,000 after purchasing an additional 6,342 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Insight Enterprises by 14.3% in the first quarter. Verdence Capital Advisors LLC now owns 1,603 shares of the software maker's stock worth $240,000 after purchasing an additional 200 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Insight Enterprises by 48.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 558,356 shares of the software maker's stock worth $83,748,000 after purchasing an additional 181,104 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Insight Enterprises by 4.3% in the first quarter. Xponance Inc. now owns 2,278 shares of the software maker's stock worth $342,000 after purchasing an additional 94 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NSIT shares. Barrington Research reaffirmed an "outperform" rating and set a $164.00 price objective on shares of Insight Enterprises in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th.

Insight Enterprises Stock Performance

NSIT traded up $5.34 during mid-day trading on Friday, reaching $123.92. 261,480 shares of the company traded hands, compared to its average volume of 358,643. The stock has a market capitalization of $3.96 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.33 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. The company's fifty day moving average price is $137.23 and its 200-day moving average price is $146.09. Insight Enterprises, Inc. has a 52-week low of $118.30 and a 52-week high of $225.38.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its quarterly earnings data 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 net margin of 2.26% and a return on equity of 18.50%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $2.46 EPS. The company's revenue was down 3.3% on a year-over-year basis. On average, sell-side 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.