Insight Enterprises, Inc. (NASDAQ:NSIT) Shares Sold by Comerica Bank

Comerica Bank reduced its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 63.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,049 shares of the software maker’s stock after selling 22,574 shares during the quarter. Comerica Bank’s holdings in Insight Enterprises were worth $1,985,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Baron Wealth Management LLC boosted its stake in Insight Enterprises by 3.8% in the 4th quarter. Baron Wealth Management LLC now owns 1,570 shares of the software maker’s stock worth $239,000 after purchasing an additional 58 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after buying an additional 63 shares during the period. J.Safra Asset Management Corp grew its holdings in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock valued at $37,000 after buying an additional 71 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Insight Enterprises by 5.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker’s stock valued at $209,000 after acquiring an additional 75 shares during the period. Finally, Romano Brothers AND Company raised its stake in Insight Enterprises by 2.7% in the 4th quarter. Romano Brothers AND Company now owns 3,850 shares of the software maker’s stock worth $586,000 after acquiring an additional 100 shares during the last quarter.

Insight Enterprises Stock Down 2.3 %

Shares of NSIT stock opened at $133.22 on Friday. Insight Enterprises, Inc. has a twelve month low of $126.10 and a twelve month high of $228.07. The stock has a market cap of $4.25 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.40 and a beta of 1.22. The stock has a 50 day moving average of $142.60 and a 200 day moving average of $156.81. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.37 EPS. As a group, sell-side analysts expect that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.