Vanguard Group Inc. Sells 51,337 Shares of Insight Enterprises, Inc. (NASDAQ: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. lessened its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Insight Enterprises during the 1st quarter worth $27,000. Bessemer Group Inc. raised its position in shares of Insight Enterprises by 79.2% during the first quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after buying an additional 84 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of 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 buying an additional 63 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after buying an additional 95 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Insight Enterprises by 100.5% in the first quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock valued at $63,000 after acquiring an additional 210 shares during the period.

Analysts Set New Price Targets

A number of research firms recently weighed in on NSIT. Barrington Research reissued an "outperform" rating and issued a $164.00 target price on shares of Insight Enterprises in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their target price 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 Trading Down 1.9%

NASDAQ NSIT traded down $2.57 during trading hours on Friday, hitting $130.07. The company's stock had a trading volume of 333,465 shares, compared to its average volume of 359,684. The stock has a fifty day moving average of $135.48 and a 200 day moving average of $142.67. Insight Enterprises, Inc. has a twelve month low of $115.68 and a twelve month high of $225.38. The firm has a market capitalization of $4.09 billion, a P/E ratio of 31.04, a PEG ratio of 1.22 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $2.45 earnings per share for the quarter, missing the consensus estimate 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 company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $2.46 earnings per share. Equities research analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share 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.