Norges Bank Takes $47.59 Million Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Norges Bank acquired a new stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) during the 4th quarter, Holdings Channel reports. The fund acquired 312,854 shares of the software maker’s stock, valued at approximately $47,585,000.

A number of other hedge funds have also recently bought and sold shares of NSIT. Baron Wealth Management LLC boosted its holdings in shares of Insight Enterprises by 3.8% during the fourth 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 during the last quarter. Quantinno Capital Management LP boosted its stake in Insight Enterprises by 2.0% in the 3rd quarter. Quantinno Capital Management LP now owns 3,456 shares of the software maker’s stock worth $744,000 after buying an additional 68 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in Insight Enterprises by 40.8% in the 4th 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 period. Cornerstone Investment Partners LLC increased its stake in shares of Insight Enterprises by 5.8% during 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 last quarter. Finally, Romano Brothers AND Company lifted its holdings in shares of Insight Enterprises by 2.7% during 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 period.

Insight Enterprises Stock Performance

Insight Enterprises stock opened at $132.04 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.15. Insight Enterprises, Inc. has a 12 month low of $128.01 and a 12 month high of $228.07. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The stock’s 50-day moving average is $159.06 and its 200-day moving average is $171.73.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same quarter in the previous year, the business earned $2.98 EPS. Equities analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barrington Research dropped 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $202.25.

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.