Russell Investments Group Ltd. Acquires 27,743 Shares of Insight Enterprises, Inc. (NSIT)
Russell Investments Group Ltd. raised its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324,027 shares of the software maker’s stock after buying an additional 27,743 shares during the period. Russell Investments Group Ltd.’s holdings in Insight Enterprises were worth $12,958,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Insight Enterprises during the fourth quarter worth $18,477,000. Teachers Advisors LLC raised its position in Insight Enterprises by 37.6% in the fourth quarter. Teachers Advisors LLC now owns 97,088 shares of the software maker’s stock worth $3,926,000 after buying an additional 26,517 shares during the period. Louisiana State Employees Retirement System raised its position in Insight Enterprises by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the software maker’s stock worth $596,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue raised its position in Insight Enterprises by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,920 shares of the software maker’s stock worth $161,000 after buying an additional 80 shares during the period. Finally, James Investment Research Inc. raised its position in Insight Enterprises by 1.6% in the first quarter. James Investment Research Inc. now owns 258,219 shares of the software maker’s stock worth $10,611,000 after buying an additional 4,015 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) traded down 1.09% during mid-day trading on Friday, reaching $41.57. The company had a trading volume of 109,109 shares. Insight Enterprises, Inc. has a 1-year low of $28.15 and a 1-year high of $53.19. The company has a market capitalization of $1.49 billion, a PE ratio of 15.44 and a beta of 1.63. The stock’s 50-day moving average price is $41.46 and its 200 day moving average price is $41.86.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.19. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Equities analysts expect that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
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NSIT has been the subject of a number of analyst reports. B. Riley restated a “neutral” rating and issued a $44.00 price target on shares of Insight Enterprises in a research report on Tuesday, May 2nd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Insight Enterprises in a research report on Thursday, May 4th. Stifel Nicolaus raised their price target on Insight Enterprises from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research report on Saturday, May 6th. Finally, BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.50.
In other Insight Enterprises news, CFO Glynis Bryan sold 3,946 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.00, for a total value of $165,732.00. Following the completion of the sale, the chief financial officer now directly owns 39,643 shares in the company, valued at approximately $1,665,006. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.23% of the stock is owned by corporate insiders.
Insight Enterprises Company 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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