First Quadrant L P CA Has $2.51 Million Holdings in Insight Enterprises, Inc. (NSIT)
First Quadrant L P CA reduced its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,592 shares of the software maker’s stock after selling 21,924 shares during the quarter. First Quadrant L P CA owned about 0.15% of Insight Enterprises worth $2,507,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Louisiana State Employees Retirement System increased its stake in Insight Enterprises by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the software maker’s stock worth $584,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Insight Enterprises by 0.5% during the second quarter. Arizona State Retirement System now owns 18,620 shares of the software maker’s stock valued at $745,000 after buying an additional 100 shares during the last quarter. Rothschild Asset Management Inc. grew its stake in shares of Insight Enterprises by 0.3% during the second quarter. Rothschild Asset Management Inc. now owns 93,009 shares of the software maker’s stock valued at $3,719,000 after buying an additional 272 shares during the last quarter. First Midwest Bank Trust Division grew its stake in shares of Insight Enterprises by 2.8% during the second quarter. First Midwest Bank Trust Division now owns 12,995 shares of the software maker’s stock valued at $520,000 after buying an additional 350 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Insight Enterprises by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after buying an additional 385 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.
In related news, CFO Glynis Bryan sold 5,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $41.90, for a total transaction of $209,500.00. Following the completion of the transaction, the chief financial officer now owns 30,797 shares in the company, valued at $1,290,394.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.38% of the company’s stock.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.19. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share.
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NSIT has been the topic of a number of analyst reports. B. Riley reaffirmed a “neutral” rating and set a $48.00 target price on shares of Insight Enterprises in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price (up previously from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Saturday, August 5th. Finally, BidaskClub cut Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Insight Enterprises currently has a consensus rating of “Hold” and a consensus price target of $50.50.
Insight Enterprises Profile
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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