Bank of New York Mellon Corp raised its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,838 shares of the software maker's stock after purchasing an additional 21,876 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Insight Enterprises worth $39,674,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Insight Enterprises by 10.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,182 shares of the software maker's stock valued at $255,000 after buying an additional 107 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Insight Enterprises by 40.0% in the third quarter. Van ECK Associates Corp now owns 16,294 shares of the software maker's stock valued at $3,438,000 after acquiring an additional 4,656 shares in the last quarter. Forte Capital LLC ADV acquired a new position in shares of Insight Enterprises during the third quarter worth about $3,141,000. Verdence Capital Advisors LLC increased its stake in shares of Insight Enterprises by 48.5% during the third quarter. Verdence Capital Advisors LLC now owns 1,656 shares of the software maker's stock worth $357,000 after acquiring an additional 541 shares during the period. Finally, Assetmark Inc. raised its holdings in Insight Enterprises by 10.6% during the third quarter. Assetmark Inc. now owns 14,204 shares of the software maker's stock worth $3,059,000 after purchasing an additional 1,367 shares in the last quarter.
Analyst Ratings Changes
Separately, Redburn Atlantic initiated coverage on Insight Enterprises in a report on Friday, November 15th. They issued a "buy" rating and a $220.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Insight Enterprises currently has a consensus rating of "Hold" and a consensus target price of $212.50.
Check Out Our Latest Report on NSIT
Insight Enterprises Price Performance
Shares of NASDAQ:NSIT traded up $3.09 on Monday, reaching $159.40. 353,486 shares of the company were exchanged, compared to its average volume of 390,024. The company has a 50-day moving average of $162.58 and a 200-day moving average of $179.13. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. Insight Enterprises, Inc. has a 1-year low of $146.56 and a 1-year high of $228.07.
Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $2.98 EPS. Equities analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.
About Insight Enterprises
(
Free Report)
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.
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