Geode Capital Management LLC Grows Stock Position in Insight Enterprises, Inc. $NSIT

Geode Capital Management LLC boosted its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 674,234 shares of the software maker’s stock after acquiring an additional 19,812 shares during the period. Geode Capital Management LLC’s holdings in Insight Enterprises were worth $93,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSIT. Fiduciary Management Inc. WI raised its position in Insight Enterprises by 17.1% in the first quarter. Fiduciary Management Inc. WI now owns 949,243 shares of the software maker’s stock valued at $142,377,000 after purchasing an additional 138,914 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Insight Enterprises by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 368,502 shares of the software maker’s stock valued at $55,272,000 after buying an additional 3,866 shares during the period. Bank of New York Mellon Corp lifted its position in Insight Enterprises by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 246,751 shares of the software maker’s stock valued at $34,073,000 after buying an additional 25,338 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Insight Enterprises by 23.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 144,037 shares of the software maker’s stock valued at $20,424,000 after buying an additional 27,131 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Insight Enterprises by 105.2% during the first quarter. American Century Companies Inc. now owns 143,751 shares of the software maker’s stock worth $21,561,000 after buying an additional 73,696 shares during the period.

Insight Enterprises Stock Up 2.3%

Shares of NASDAQ NSIT opened at $84.05 on Friday. The stock has a market cap of $2.60 billion, a P/E ratio of 20.06, a PEG ratio of 0.95 and a beta of 1.11. The business’s fifty day simple moving average is $104.67 and its 200-day simple moving average is $123.53. Insight Enterprises, Inc. has a 12-month low of $81.59 and a 12-month high of $181.92. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.83.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, October 30th. The software maker reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.06). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%.Insight Enterprises’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.19 EPS. Insight Enterprises has set its FY 2025 guidance at 9.600-9.900 EPS. As a group, equities analysts predict that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NSIT shares. Barrington Research set a $120.00 price objective on shares of Insight Enterprises in a report on Friday, October 31st. Canaccord Genuity Group started coverage on Insight Enterprises in a research report on Wednesday. They issued a “hold” rating and a $100.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Insight Enterprises in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $128.33.

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.