377,252 Shares in Insight Enterprises, Inc. (NASDAQ:NSIT) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 377,252 shares of the software maker's stock, valued at approximately $57,380,000. Massachusetts Financial Services Co. MA owned 1.19% of Insight Enterprises at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Insight Enterprises by 26.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock worth $163,243,000 after acquiring an additional 225,283 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Insight Enterprises by 1.7% in the third quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker's stock worth $142,073,000 after buying an additional 10,711 shares in the last quarter. Norges Bank purchased a new position in Insight Enterprises during the fourth quarter worth about $47,585,000. Wellington Management Group LLP raised its holdings in shares of Insight Enterprises by 65.7% in the 4th quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock valued at $41,188,000 after acquiring an additional 107,397 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Insight Enterprises by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 260,838 shares of the software maker's stock valued at $39,674,000 after acquiring an additional 21,876 shares during the last quarter.

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Wall Street Analyst Weigh In

Separately, Barrington Research dropped their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $202.25.

Insight Enterprises Price Performance

Shares of Insight Enterprises stock traded down $6.18 during trading on Thursday, hitting $132.70. 72,093 shares of the stock traded hands, compared to its average volume of 305,663. The firm's fifty day moving average is $155.14 and its 200-day moving average is $168.99. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.40 and a beta of 1.31. Insight Enterprises, Inc. has a 52 week low of $126.10 and a 52 week high of $228.07. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $2.98 EPS. Research analysts expect that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

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.