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

Voloridge Investment Management LLC acquired a new position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) in the fourth quarter, according to its most recent 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 about 0.20% of Insight Enterprises as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NSIT. Alberta Investment Management Corp bought a new stake in shares of Insight Enterprises in the 4th quarter valued at about $2,494,000. Raymond James Financial Inc. bought a new stake in Insight Enterprises in the fourth quarter valued at approximately $532,000. Principal Financial Group Inc. boosted its stake in shares of Insight Enterprises by 1.2% during the fourth quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker's stock valued at $21,833,000 after purchasing an additional 1,653 shares during the period. Rhumbline Advisers grew its holdings in shares of Insight Enterprises by 2.4% in the fourth quarter. Rhumbline Advisers now owns 82,198 shares of the software maker's stock worth $12,502,000 after purchasing an additional 1,925 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new position in shares of Insight Enterprises in the fourth quarter worth $449,000.

Insight Enterprises Trading Down 1.4%

Insight Enterprises stock traded down $1.81 during mid-day trading on Thursday, reaching $132.16. 337,638 shares of the company traded hands, compared to its average volume of 325,082. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.15. Insight Enterprises, Inc. has a 52-week low of $126.10 and a 52-week high of $228.07. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.40 and a beta of 1.22. The firm's 50 day moving average price is $137.57 and its 200 day moving average price is $151.97.

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

Analyst Ratings Changes

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

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.