XTX Topco Ltd Grows Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Key Points

• XTX Topco Ltd increased its stake in Insight Enterprises by 172.7% in Q1, acquiring 4,336 shares for a total of 6,847 shares valued at approximately $1,027,000.
• Insight Enterprises missed earnings estimates by 4 cents, reporting $2.45 earnings per share against the consensus estimate of $2.49, with revenues also falling short.
• Analysts from JPMorgan Chase & Co. and Barrington Research have set new price targets for Insight Enterprises, raising estimates to $165.00 and $164.00 respectively.

XTX Topco Ltd raised its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 172.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,847 shares of the software maker's stock after acquiring an additional 4,336 shares during the quarter. XTX Topco Ltd's holdings in Insight Enterprises were worth $1,027,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Insight Enterprises in the fourth quarter worth about $532,000. Norges Bank bought a new position in shares of Insight Enterprises during the 4th quarter valued at about $47,585,000. Wellington Management Group LLP raised its position in Insight Enterprises by 65.7% in the 4th 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 last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Insight Enterprises in the 4th quarter valued at approximately $57,380,000. Finally, Wells Fargo & Company MN raised its position in Insight Enterprises by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 52,362 shares of the software maker's stock valued at $7,964,000 after buying an additional 10,827 shares during the last quarter.

Insight Enterprises Stock Performance

Shares of NSIT traded down $0.04 during mid-day trading on Thursday, hitting $117.19. The stock had a trading volume of 259,182 shares, compared to its average volume of 362,195. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.26. Insight Enterprises, Inc. has a 52 week low of $115.68 and a 52 week high of $225.38. The firm has a market cap of $3.69 billion, a P/E ratio of 27.92, a PEG ratio of 1.09 and a beta of 1.21. The business has a fifty day moving average price of $136.04 and a 200-day moving average price of $144.83.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $2.45 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.04). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Insight Enterprises's quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NSIT. JPMorgan Chase & Co. boosted their price target on Insight Enterprises from $152.00 to $165.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barrington Research reaffirmed an "outperform" rating and issued a $164.00 price objective on shares of Insight Enterprises in a report on Monday, July 21st.

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.