Nuveen Asset Management LLC Grows Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Posted by Defense World Staff on Mar 2nd, 2023

Nuveen Asset Management LLC lifted its stake in Insight Enterprises, Inc. (NASDAQ:NSIT – Get Rating) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,098 shares of the software maker’s stock after buying an additional 246 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.88% of Insight Enterprises worth $25,391,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ellevest Inc. lifted its holdings in shares of Insight Enterprises by 2,441.7% in the third quarter. Ellevest Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 293 shares in the last quarter. Ronald Blue Trust Inc. increased its position in Insight Enterprises by 179.3% in the third quarter. Ronald Blue Trust Inc. now owns 310 shares of the software maker’s stock worth $27,000 after purchasing an additional 199 shares during the last quarter. US Bancorp DE increased its position in Insight Enterprises by 86.4% in the second quarter. US Bancorp DE now owns 822 shares of the software maker’s stock worth $71,000 after purchasing an additional 381 shares during the last quarter. Quadrant Capital Group LLC increased its position in Insight Enterprises by 262.7% in the third quarter. Quadrant Capital Group LLC now owns 856 shares of the software maker’s stock worth $71,000 after purchasing an additional 620 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in Insight Enterprises in the second quarter worth $80,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NSIT shares. Barrington Research boosted their price target on shares of Insight Enterprises from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Sidoti restated a “neutral” rating and issued a $127.00 price target on shares of Insight Enterprises in a research report on Monday, February 6th.

Insider Buying and Selling at Insight Enterprises

In other news, Director Holdings L.P. Valueact acquired 38,237 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were acquired at an average price of $128.62 per share, for a total transaction of $4,918,042.94. Following the completion of the transaction, the director now directly owns 4,507,306 shares of the company’s stock, valued at approximately $579,729,697.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 60,663 shares of company stock worth $7,759,175 over the last quarter. Insiders own 1.61% of the company’s stock.

Insight Enterprises Trading Up 0.4 %

NSIT stock opened at $134.39 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Insight Enterprises, Inc. has a twelve month low of $81.11 and a twelve month high of $135.24. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61. The firm’s fifty day simple moving average is $114.21 and its two-hundred day simple moving average is $100.17.

Insight Enterprises (NASDAQ:NSIT – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The software maker reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.40. Insight Enterprises had a net margin of 2.69% and a return on equity of 19.98%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Insight Enterprises, Inc. will post 10 earnings per share for the current year.

About Insight Enterprises

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Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America, Europe, the Middle East, Africa, and Asia-Pacific.