Insight Enterprises, Inc. (NSIT) Holdings Boosted by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. raised its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 57.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,907 shares of the software maker’s stock after buying an additional 4,349 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Insight Enterprises were worth $476,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Gotham Asset Management LLC bought a new position in shares of Insight Enterprises in the first quarter worth about $1,562,000. Vanguard Group Inc. raised its stake in shares of Insight Enterprises by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock worth $133,243,000 after acquiring an additional 144,077 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Insight Enterprises by 172.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 84,174 shares of the software maker’s stock worth $3,457,000 after acquiring an additional 53,278 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Insight Enterprises in the first quarter worth about $1,903,000. Finally, Arizona State Retirement System raised its stake in shares of Insight Enterprises by 1.6% in the first quarter. Arizona State Retirement System now owns 18,520 shares of the software maker’s stock worth $761,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.
Insight Enterprises, Inc. (NASDAQ NSIT) opened at 40.35 on Wednesday. Insight Enterprises, Inc. has a 52 week low of $28.15 and a 52 week high of $53.19. The firm has a 50 day moving average of $40.64 and a 200-day moving average of $41.72. The company has a market capitalization of $1.44 billion, a P/E ratio of 14.99 and a beta of 1.63.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company posted $0.97 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Insight Enterprises, Inc. will post $3.23 earnings per share for the current year.
In related news, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $41.90, for a total transaction of $209,500.00. Following the sale, the chief financial officer now directly owns 30,797 shares in the company, valued at approximately $1,290,394.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.38% of the stock is owned by company insiders.
NSIT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Saturday, August 5th. BidaskClub downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price (up from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Finally, B. Riley raised shares of Insight Enterprises to a “buy” rating and set a $54.50 target price for the company in a research note 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.50.
Insight Enterprises Company Profile
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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