Panagora Asset Management Inc. Cuts Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Panagora Asset Management Inc. cut its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,648 shares of the software maker's stock after selling 10,752 shares during the quarter. Panagora Asset Management Inc. owned about 0.12% of Insight Enterprises worth $7,025,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Insight Enterprises by 53.1% during the fourth quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker's stock valued at $126,194,000 after acquiring an additional 247,049 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Insight Enterprises by 6.4% during the third quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker's stock valued at $598,220,000 after acquiring an additional 245,814 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Insight Enterprises during the third quarter valued at about $12,131,000. Kennedy Capital Management LLC grew its stake in Insight Enterprises by 83.1% in the third quarter. Kennedy Capital Management LLC now owns 164,489 shares of the software maker's stock worth $23,933,000 after purchasing an additional 74,655 shares in the last quarter. Finally, Tudor Investment Corp Et Al grew its stake in Insight Enterprises by 169.4% in the third quarter. Tudor Investment Corp Et Al now owns 72,503 shares of the software maker's stock worth $10,549,000 after purchasing an additional 45,588 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total transaction of $337,939.50. Following the sale, the chief accounting officer now owns 4,436 shares of the company's stock, valued at $810,324.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Insight Enterprises news, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the transaction, the director now owns 5,800 shares in the company, valued at $1,073,696. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of Insight Enterprises stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total transaction of $337,939.50. Following the completion of the transaction, the chief accounting officer now owns 4,436 shares in the company, valued at approximately $810,324.12. The disclosure for this sale can be found here. Insiders have sold a total of 30,918 shares of company stock valued at $5,899,003 over the last quarter. Corporate insiders own 1.23% of the company's stock.

Insight Enterprises Stock Performance

Shares of NSIT traded down $2.30 during mid-day trading on Friday, reaching $206.79. 138,622 shares of the company's stock traded hands, compared to its average volume of 238,946. The business's 50-day moving average price is $188.15 and its 200-day moving average price is $178.81. The stock has a market capitalization of $6.73 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.22 and a current ratio of 1.27. Insight Enterprises, Inc. has a 12 month low of $127.61 and a 12 month high of $212.44.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.55. The company had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. Equities analysts predict that Insight Enterprises, Inc. will post 10.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on NSIT. JPMorgan Chase & Co. lifted their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a "neutral" rating in a research note on Friday, May 3rd. Barrington Research raised their target price on shares of Insight Enterprises from $211.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, May 9th. StockNews.com cut shares of Insight Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, May 11th. Finally, Stifel Nicolaus raised their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a "hold" rating in a report on Monday, April 15th.

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.