Magnetar Financial LLC Raises Holdings in Insight Enterprises, Inc. $NSIT

Magnetar Financial LLC boosted its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 937.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,960 shares of the software maker’s stock after acquiring an additional 16,228 shares during the quarter. Magnetar Financial LLC owned about 0.06% of Insight Enterprises worth $2,480,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NSIT. MTM Investment Management LLC purchased a new position in shares of Insight Enterprises during the 2nd quarter worth $55,000. SG Americas Securities LLC purchased a new stake in Insight Enterprises in the 2nd quarter valued at about $663,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Insight Enterprises by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,050 shares of the software maker’s stock valued at $973,000 after buying an additional 510 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Insight Enterprises by 5.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,253 shares of the software maker’s stock worth $863,000 after buying an additional 311 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Insight Enterprises by 3.0% during the second quarter. Geode Capital Management LLC now owns 674,234 shares of the software maker’s stock worth $93,112,000 after buying an additional 19,812 shares during the period.

Insight Enterprises Price Performance

Shares of NSIT opened at $84.05 on Friday. The company 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. Insight Enterprises, Inc. has a fifty-two week low of $81.59 and a fifty-two week high of $181.92. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The firm’s 50 day moving average price is $104.67 and its 200 day moving average price is $123.48.

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

Analysts Set New Price Targets

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

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.