15,139 Shares in Insight Enterprises, Inc. (NSIT) Acquired by Cigna Investments Inc. New
Cigna Investments Inc. New acquired a new stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,139 shares of the software maker’s stock, valued at approximately $605,000.
Other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Insight Enterprises during the first quarter valued at $123,000. State of Alaska Department of Revenue raised its stake in shares of 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 valued at $161,000 after buying an additional 80 shares during the period. Invictus RG purchased a new stake in shares of Insight Enterprises during the first quarter valued at $199,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Insight Enterprises during the first quarter valued at $311,000. Finally, Capital One National Association purchased a new stake in shares of Insight Enterprises during the second quarter valued at $332,000. Institutional investors and hedge funds own 98.38% of the company’s stock.
Shares of Insight Enterprises, Inc. (NASDAQ NSIT) opened at 41.96 on Tuesday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 15.59 and a beta of 1.63. Insight Enterprises, Inc. has a one year low of $28.15 and a one year high of $53.19. The stock’s 50 day moving average price is $41.47 and its 200 day moving average price is $41.97.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.97 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. On average, analysts forecast that Insight Enterprises, Inc. will post $3.23 EPS for the current year.
Several equities research analysts have recently commented on NSIT shares. BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research downgraded Insight Enterprises from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Stifel Nicolaus upped their target price on Insight Enterprises from $36.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, May 4th. Finally, B. Riley raised Insight Enterprises to a “buy” rating and set a $54.50 target price for the company in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.50.
In other news, CFO Glynis Bryan sold 3,946 shares of the firm’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 transaction, the chief financial officer now directly owns 39,643 shares in the company, valued at approximately $1,665,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.
About Insight Enterprises
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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