Hennessy Advisors Inc. Takes Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Hennessy Advisors Inc. bought a new position in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 258,000 shares of the software maker's stock, valued at approximately $39,242,000. Insight Enterprises accounts for about 1.2% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 29th biggest holding. Hennessy Advisors Inc. owned approximately 0.81% of Insight Enterprises at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NSIT. GAMMA Investing LLC boosted its position in shares of Insight Enterprises by 72.6% in the third quarter. GAMMA Investing LLC now owns 780 shares of the software maker's stock worth $168,000 after purchasing an additional 328 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Insight Enterprises during the 3rd quarter valued at $203,000. Huntington National Bank boosted its holdings in Insight Enterprises by 7.3% in the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker's stock worth $214,000 after buying an additional 68 shares during the period. Iowa State Bank purchased a new stake in Insight Enterprises in the 3rd quarter worth $215,000. Finally, Atria Investments Inc bought a new stake in Insight Enterprises during the third quarter valued at about $215,000.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NSIT shares. Barrington Research dropped 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. Redburn Atlantic initiated coverage on Insight Enterprises in a research note on Friday, November 15th. They issued a "buy" rating and a $220.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Insight Enterprises currently has an average rating of "Hold" and an average target price of $212.50.

Insight Enterprises Price Performance

Shares of NSIT stock traded up $0.81 during trading hours on Friday, hitting $166.05. The stock had a trading volume of 360,343 shares, compared to its average volume of 340,806. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.25 and a beta of 1.42. Insight Enterprises, Inc. has a one year low of $146.56 and a one year high of $228.07. The stock's 50-day moving average price is $156.76 and its two-hundred day moving average price is $188.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly 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 net margin of 3.42% and a return on equity of 19.71%. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the previous year, the company earned $2.37 EPS. Insight Enterprises's revenue for the quarter was down 7.9% compared to the same quarter last year. Equities analysts forecast that Insight Enterprises, Inc. will post 9.55 EPS for the current year.

Insight Enterprises Company Profile

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.