Capital Research Global Investors Has $117.71 Million Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Capital Research Global Investors reduced its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773,888 shares of the software maker’s stock after selling 261,702 shares during the quarter. Capital Research Global Investors’ holdings in Insight Enterprises were worth $117,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSIT. Alberta Investment Management Corp acquired a new stake in shares of Insight Enterprises during the 4th quarter worth about $2,494,000. Raymond James Financial Inc. acquired a new stake in shares of Insight Enterprises during the fourth quarter worth approximately $532,000. Principal Financial Group Inc. increased its holdings in shares of 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 buying an additional 1,653 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Insight Enterprises by 2.4% in the fourth quarter. Rhumbline Advisers now owns 82,198 shares of the software maker’s stock valued at $12,502,000 after acquiring an additional 1,925 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new position in shares of Insight Enterprises in the 4th quarter worth approximately $449,000.

Insight Enterprises Stock Up 0.0 %

Shares of NSIT opened at $133.35 on Monday. The business’s fifty day moving average price is $150.11 and its two-hundred day moving average price is $164.85. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 20.45, 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 debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. During the same quarter last year, the firm earned $2.98 EPS. On average, analysts predict that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NSIT. Barrington Research cut their price objective on Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Insight Enterprises has a consensus rating of “Hold” and an average target price of $185.00.

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.