Victory Capital Management Inc. Sells 15,586 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• Victory Capital Management Inc. reduced its stake in Insight Enterprises by 43.9%, selling 15,586 shares and holding approximately 0.06% of the company worth $2.985 million.
• Insight Enterprises reported a 2.06 EPS for the quarter, surpassing analyst expectations, but experienced an 11.6% revenue decline compared to the previous year.
• Analysts have recently increased their price target on the company's stock, with JPMorgan Chase raising its objective to $165.00 and maintaining a "neutral" rating.

Victory Capital Management Inc. lowered its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,900 shares of the software maker's stock after selling 15,586 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Insight Enterprises worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Insight Enterprises by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker's stock valued at $124,934,000 after acquiring an additional 2,944 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Insight Enterprises by 48.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 558,356 shares of the software maker's stock valued at $83,748,000 after acquiring an additional 181,104 shares during the last quarter. Northern Trust Corp increased its position in Insight Enterprises by 16.5% during the fourth quarter. Northern Trust Corp now owns 446,526 shares of the software maker's stock valued at $67,917,000 after acquiring an additional 63,200 shares during the last quarter. Norges Bank purchased a new stake in Insight Enterprises during the fourth quarter valued at $47,585,000. Finally, Wellington Management Group LLP increased its position in Insight Enterprises by 65.7% during the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock valued at $41,188,000 after acquiring an additional 107,397 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NSIT shares. Barrington Research reiterated 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. boosted their price target on Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, July 17th.

Insight Enterprises Stock Performance

NASDAQ:NSIT traded down $19.16 during mid-day trading on Thursday, hitting $125.43. 168,306 shares of the company traded hands, compared to its average volume of 352,820. The stock's fifty day moving average price is $137.30 and its 200-day moving average price is $146.39. Insight Enterprises, Inc. has a one year low of $126.10 and a one year 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 firm has a market cap of $4.00 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). Insight Enterprises had a return on equity of 18.50% and a net margin of 2.26%. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. Research analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Insight Enterprises Company 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.