T. Rowe Price Investment Management Inc. Cuts Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

T. Rowe Price Investment Management Inc. cut its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 12.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 619,700 shares of the software maker's stock after selling 87,667 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.95% of Insight Enterprises worth $94,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new position in Insight Enterprises in the 4th quarter valued at $2,494,000. Raymond James Financial Inc. purchased a new position in shares of Insight Enterprises in the fourth quarter worth about $532,000. Principal Financial Group Inc. boosted its position in Insight Enterprises by 1.2% during the fourth quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker's stock worth $21,833,000 after acquiring an additional 1,653 shares during the last quarter. Rhumbline Advisers boosted its position 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 during the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in Insight Enterprises during the 4th quarter valued at about $449,000.

Insight Enterprises Trading Up 0.7 %

Shares of Insight Enterprises stock traded up $1.03 during trading hours on Friday, hitting $138.61. The company's stock had a trading volume of 155,097 shares, compared to its average volume of 311,846. The firm has a fifty day moving average of $146.93 and a 200-day moving average of $161.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.40 and a beta of 1.31. Insight Enterprises, Inc. has a twelve month low of $126.10 and a twelve month high of $228.07.

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 (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 period in the prior year, the business posted $2.98 EPS. Research analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NSIT shares. Barrington Research decreased their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their price target on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Insight Enterprises presently has a consensus rating of "Hold" and an average price target of $185.00.

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.