Hsbc Holdings PLC Purchases 2,459 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Hsbc Holdings PLC boosted its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,688 shares of the software maker's stock after purchasing an additional 2,459 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Insight Enterprises worth $2,653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NSIT. Massachusetts Financial Services Co. MA acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $57,380,000. Norges Bank acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $47,585,000. Hennessy Advisors Inc. acquired a new position in Insight Enterprises in the fourth quarter valued at about $39,242,000. Pacer Advisors Inc. raised its stake in Insight Enterprises by 26.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock valued at $163,243,000 after purchasing an additional 225,283 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock valued at $41,188,000 after purchasing an additional 107,397 shares in the last quarter.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT opened at $138.28 on Thursday. Insight Enterprises, Inc. has a twelve month low of $126.10 and a twelve month high of $228.07. The firm has a fifty day simple moving average of $145.37 and a 200 day simple moving average of $161.01. The company has a market capitalization of $4.41 billion, a PE ratio of 21.21, a P/E/G ratio of 1.40 and a beta of 1.31. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same period in the prior year, the company earned $2.98 earnings per share. On average, sell-side analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Barrington Research lowered their target price on Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Insight Enterprises 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.

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