Versor Investments LP Trims Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Versor Investments LP decreased its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 83.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 950 shares of the software maker’s stock after selling 4,931 shares during the quarter. Versor Investments LP’s holdings in Insight Enterprises were worth $205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSIT. Vanguard Group Inc. boosted its position in shares of Insight Enterprises by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,871,959 shares of the software maker’s stock valued at $718,326,000 after purchasing an additional 13,072 shares during the period. Capital World Investors grew its position in shares of Insight Enterprises by 27.8% during the first quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock worth $398,700,000 after acquiring an additional 467,088 shares during the last quarter. Capital Research Global Investors grew its position in shares of Insight Enterprises by 54.9% during the first quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock worth $168,398,000 after acquiring an additional 321,780 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Insight Enterprises by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker’s stock valued at $56,790,000 after acquiring an additional 36,790 shares during the period. Finally, Capital International Investors purchased a new stake in Insight Enterprises in the 1st quarter valued at $33,765,000.

Analyst Ratings Changes

Several brokerages have issued reports on NSIT. Redburn Atlantic initiated coverage on shares of Insight Enterprises in a research report on Friday. They set a “buy” rating and a $220.00 price objective on the stock. Barrington Research reduced their price objective on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Insight Enterprises currently has a consensus rating of “Hold” and an average price target of $212.50.

Insider Activity

In other news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $206.03, for a total transaction of $152,256.17. Following the sale, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.23% of the company’s stock.

Insight Enterprises Trading Down 0.7 %

NASDAQ NSIT opened at $151.50 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $4.81 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.38 and a beta of 1.48. Insight Enterprises, Inc. has a 52-week low of $147.28 and a 52-week high of $228.07. The firm has a 50-day moving average price of $201.83 and a 200 day moving average price of $202.52.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the company posted $2.37 earnings per share. The business’s quarterly revenue was down 7.9% on a year-over-year basis. Equities research analysts expect that Insight Enterprises, Inc. will post 9.55 EPS for the current year.

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.