Insight Enterprises, Inc. (NASDAQ:NSIT) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,461 shares of the software maker’s stock after selling 1,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Insight Enterprises were worth $12,807,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Blueshift Asset Management LLC acquired a new position in Insight Enterprises in the third quarter valued at about $333,000. Glenmede Trust Co. NA lifted its position in Insight Enterprises by 5.0% in the third quarter. Glenmede Trust Co. NA now owns 2,513 shares of the software maker’s stock valued at $541,000 after buying an additional 119 shares during the last quarter. Truvestments Capital LLC lifted its position in Insight Enterprises by 11.5% in the third quarter. Truvestments Capital LLC now owns 3,013 shares of the software maker’s stock valued at $649,000 after buying an additional 310 shares during the last quarter. Cerity Partners LLC lifted its position in Insight Enterprises by 54.4% in the third quarter. Cerity Partners LLC now owns 2,813 shares of the software maker’s stock valued at $606,000 after buying an additional 991 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Insight Enterprises by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 368,951 shares of the software maker’s stock valued at $79,468,000 after buying an additional 85,428 shares during the last quarter.

Insight Enterprises Stock Up 0.3 %

NSIT stock opened at $156.28 on Friday. The company’s 50 day moving average price is $193.31 and its 200 day moving average price is $200.16. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24. Insight Enterprises, Inc. has a fifty-two week low of $146.56 and a fifty-two week high of $228.07. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.36 and a beta of 1.48.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share 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 firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company posted $2.37 earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barrington Research cut their price target on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Redburn Atlantic initiated coverage on shares of Insight Enterprises in a research note on Friday, November 15th. They set a “buy” rating and a $220.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Insight Enterprises currently has an average rating of “Hold” and an average target price of $212.50.

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.