Voloridge Investment Management LLC Invests $9.55 Million in Insight Enterprises, Inc. (NASDAQ:NSIT)

Voloridge Investment Management LLC acquired a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 62,754 shares of the software maker's stock, valued at approximately $9,545,000. Voloridge Investment Management LLC owned 0.20% of Insight Enterprises as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Insight Enterprises during the fourth quarter worth about $32,000. R Squared Ltd purchased a new stake in Insight Enterprises in the fourth quarter valued at approximately $33,000. J.Safra Asset Management Corp grew its holdings in Insight Enterprises by 40.8% in the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock valued at $37,000 after purchasing an additional 71 shares during the period. NewEdge Advisors LLC grew its holdings in Insight Enterprises by 32.8% in the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after purchasing an additional 63 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Insight Enterprises by 287.7% in the fourth 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.

Analyst Upgrades and Downgrades

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

Insight Enterprises Stock Down 1.7%

Shares of NSIT stock traded down $2.31 on Friday, hitting $129.86. The stock had a trading volume of 51,389 shares, compared to its average volume of 323,538. Insight Enterprises, Inc. has a 52-week low of $126.10 and a 52-week high of $228.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.40 and a beta of 1.22. The stock's 50 day moving average is $137.00 and its 200-day moving average is $151.73.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. The company's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $2.37 EPS. As a group, research analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current 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.