Vanguard Group Inc. Sells 51,337 Shares of Insight Enterprises, Inc. $NSIT

Key Points

• Vanguard Group Inc. reduced its holdings in Insight Enterprises by 1.3%, selling 51,337 shares, leaving it with approximately 3.8 million shares valued at $571.2 million.
• Insight Enterprises reported a miss on earnings per share for the last quarter, with earnings of $2.45, falling short of analysts' expectations of $2.49.
• Analysts have mixed recommendations on Insight, with Barrington Research maintaining an "outperform" rating and a $164 price target, while JPMorgan Chase raised their target to $165 with a "neutral" rating.

Vanguard Group Inc. cut its position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,808,266 shares of the software maker's stock after selling 51,337 shares during the period. Vanguard Group Inc. owned 11.93% of Insight Enterprises worth $571,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NSIT. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $83,748,000 after purchasing an additional 181,104 shares during the period. GAMMA Investing LLC lifted its holdings in Insight Enterprises by 42,674.8% in the first quarter. GAMMA Investing LLC now owns 173,238 shares of the software maker's stock valued at $259,840,000 after buying an additional 172,833 shares during the period. Wellington Management Group LLP lifted its stake in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock valued at $41,188,000 after buying an additional 107,397 shares during the period. Marshall Wace LLP acquired a new stake in Insight Enterprises in the fourth quarter worth $15,220,000. Finally, Northern Trust Corp raised its stake in 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 buying an additional 63,200 shares during the period.

Analysts Set New Price Targets

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

Insight Enterprises Trading Up 1.6%

Shares of NASDAQ:NSIT traded up $2.08 during mid-day trading on Monday, reaching $132.15. 89,572 shares of the company's stock were exchanged, compared to its average volume of 362,012. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.20 and a beta of 1.21. Insight Enterprises, Inc. has a twelve month low of $115.68 and a twelve month high of $225.38. The business's fifty day moving average price is $135.48 and its 200-day moving average price is $142.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.26 and a current ratio of 1.29.

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). The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. On average, research analysts predict that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal 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.