Teacher Retirement System of Texas Boosts Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas raised its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT – Get Rating) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,381 shares of the software maker’s stock after acquiring an additional 1,054 shares during the quarter. Teacher Retirement System of Texas’ holdings in Insight Enterprises were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Duality Advisers LP purchased a new position in Insight Enterprises during the 4th quarter valued at about $329,000. Natixis Advisors L.P. raised its position in shares of Insight Enterprises by 120.7% in the fourth quarter. Natixis Advisors L.P. now owns 137,524 shares of the software maker’s stock valued at $13,790,000 after buying an additional 75,208 shares during the last quarter. Watershed Asset Management L.L.C. raised its position in shares of Insight Enterprises by 11.5% in the third quarter. Watershed Asset Management L.L.C. now owns 2,851 shares of the software maker’s stock valued at $235,000 after buying an additional 293 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Insight Enterprises by 0.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 628,900 shares of the software maker’s stock valued at $63,060,000 after buying an additional 2,000 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of Insight Enterprises by 15.6% in the third quarter. Summit Trail Advisors LLC now owns 3,883 shares of the software maker’s stock valued at $320,000 after buying an additional 525 shares during the last quarter.

Insight Enterprises Price Performance

NSIT stock opened at $141.10 on Thursday. The stock has a 50-day moving average price of $131.60 and a two-hundred day moving average price of $121.40. The company has a market cap of $4.69 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.08 and a beta of 1.54. The company has a current ratio of 1.30, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. Insight Enterprises, Inc. has a 12-month low of $81.11 and a 12-month high of $144.84.

Insight Enterprises (NASDAQ:NSIT – Get Rating) last issued its earnings results on Tuesday, May 2nd. The software maker reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.06). Insight Enterprises had a return on equity of 19.77% and a net margin of 2.71%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, research analysts predict that Insight Enterprises, Inc. will post 9.85 EPS for the current year.

Wall Street Analyst Weigh In

NSIT has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Insight Enterprises in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Barrington Research cut their price objective on shares of Insight Enterprises from $150.00 to $146.00 in a research report on Monday, May 8th. Finally, Stifel Nicolaus cut their price objective on shares of Insight Enterprises from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, April 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $127.75.

Insight Enterprises Company Profile

(Get Rating)

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.