Allspring Global Investments Holdings LLC Boosts Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)
Allspring Global Investments Holdings LLC boosted its position in Insight Enterprises, Inc. (NASDAQ:NSIT – Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,906 shares of the software maker’s stock after buying an additional 12,980 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.37% of Insight Enterprises worth $17,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Insight Enterprises during the 4th quarter worth approximately $57,380,000. Norges Bank purchased a new stake in Insight Enterprises in the fourth quarter worth about $47,585,000. GAMMA Investing LLC boosted its position in Insight Enterprises by 42,674.8% during the 1st quarter. GAMMA Investing LLC now owns 173,238 shares of the software maker’s stock valued at $259,840,000 after acquiring an additional 172,833 shares in the last quarter. Wellington Management Group LLP grew its stake in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock worth $41,188,000 after purchasing an additional 107,397 shares during the period. Finally, Marshall Wace LLP bought a new position in Insight Enterprises in the fourth quarter worth $15,220,000.
Insight Enterprises Price Performance
Shares of NASDAQ:NSIT opened at $142.76 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.23. The business has a 50-day simple moving average of $134.70 and a two-hundred day simple moving average of $147.94. Insight Enterprises, Inc. has a fifty-two week low of $126.10 and a fifty-two week high of $228.07. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20.
Insight Enterprises (NASDAQ:NSIT – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $2.03 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. Insight Enterprises had a return on equity of 18.50% and a net margin of 2.26%. Insight Enterprises’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 earnings per share. On average, analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on NSIT. Barrington Research reissued an “outperform” rating and set a $164.00 price target on shares of Insight Enterprises in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Insight Enterprises currently has a consensus rating of “Hold” and a consensus target price of $185.00.
Check Out Our Latest Stock Analysis on Insight Enterprises
Insight Enterprises 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.
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