Prudential Financial Inc. Lowers Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Prudential Financial Inc. trimmed its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,722 shares of the software maker's stock after selling 2,013 shares during the period. Prudential Financial Inc. owned approximately 0.09% of Insight Enterprises worth $4,200,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Insight Enterprises by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker's stock valued at $142,073,000 after acquiring an additional 10,711 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Insight Enterprises in the 4th quarter valued at about $2,494,000. Principal Financial Group Inc. lifted its position in shares of Insight Enterprises by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker's stock worth $21,833,000 after purchasing an additional 1,653 shares in the last quarter. Rhumbline Advisers raised its holdings in Insight Enterprises by 2.4% during the fourth quarter. Rhumbline Advisers now owns 82,198 shares of the software maker's stock worth $12,502,000 after acquiring an additional 1,925 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Insight Enterprises in the fourth quarter valued at $449,000.

Wall Street Analysts Forecast Growth

Separately, Barrington Research dropped their price target 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $202.25.

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Insight Enterprises Price Performance

Shares of NASDAQ:NSIT traded down $4.94 on Friday, hitting $132.04. The company's stock had a trading volume of 722,859 shares, compared to its average volume of 303,172. Insight Enterprises, Inc. has a 1 year low of $128.01 and a 1 year high of $228.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.15. The company has a market capitalization of $4.20 billion, a PE ratio of 20.25, a PEG ratio of 1.40 and a beta of 1.31. The company has a 50-day simple moving average of $159.06 and a 200 day simple moving average of $171.18.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating 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 period in the previous year, the company earned $2.98 EPS. Sell-side analysts forecast 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.