Northern Trust Corp Grows Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Northern Trust Corp increased its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 446,526 shares of the software maker's stock after buying an additional 63,200 shares during the quarter. Northern Trust Corp owned 1.41% of Insight Enterprises worth $67,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tudor Investment Corp ET AL increased its stake in shares of Insight Enterprises by 65.2% in the fourth quarter. Tudor Investment Corp ET AL now owns 61,136 shares of the software maker's stock valued at $9,299,000 after buying an additional 24,136 shares during the period. Aquatic Capital Management LLC boosted its holdings in Insight Enterprises by 376.3% in the fourth quarter. Aquatic Capital Management LLC now owns 15,719 shares of the software maker's stock worth $2,391,000 after acquiring an additional 12,419 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Insight Enterprises by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,811 shares of the software maker's stock valued at $3,318,000 after purchasing an additional 1,653 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Insight Enterprises during the fourth quarter valued at approximately $357,000. Finally, Quantessence Capital LLC purchased a new stake in shares of Insight Enterprises during the fourth quarter valued at approximately $225,000.

Insight Enterprises Trading Down 2.3%

Shares of NSIT traded down $3.11 during mid-day trading on Friday, hitting $133.22. 404,640 shares of the company's stock traded hands, compared to its average volume of 314,949. 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, Inc. has a 1 year low of $126.10 and a 1 year high of $228.07. The firm has a market capitalization of $4.25 billion, a P/E ratio of 20.43, a PEG ratio of 1.40 and a beta of 1.22. The business's 50-day moving average price is $142.60 and its 200-day moving average price is $156.05.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The firm's quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.37 earnings per share. As a group, sell-side analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NSIT. Barrington Research reduced their price target on Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. dropped their target price on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $185.00.

About Insight Enterprises

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.