Maryland State Retirement & Pension System Lowers Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Posted by Defense World Staff on Sep 22nd, 2023

Maryland State Retirement & Pension System reduced its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT – Free Report) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,274 shares of the software maker’s stock after selling 929 shares during the period. Maryland State Retirement & Pension System’s holdings in Insight Enterprises were worth $1,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Insight Enterprises during the 1st quarter valued at about $31,000. Federated Hermes Inc. lifted its position in Insight Enterprises by 40.2% during the 3rd quarter. Federated Hermes Inc. now owns 366 shares of the software maker’s stock valued at $30,000 after acquiring an additional 105 shares during the period. Cerity Partners LLC purchased a new position in Insight Enterprises during the 1st quarter valued at about $760,000. Harvest Fund Management Co. Ltd purchased a new position in Insight Enterprises during the 1st quarter valued at about $74,000. Finally, Ronald Blue Trust Inc. increased its stake in Insight Enterprises by 30.0% during the 1st quarter. Ronald Blue Trust Inc. now owns 554 shares of the software maker’s stock valued at $56,000 after purchasing an additional 128 shares in the last quarter.

Analysts Set New Price Targets

NSIT has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $168.00 price objective on shares of Insight Enterprises in a research note on Monday, September 11th. StockNews.com initiated coverage on shares of Insight Enterprises in a research note on Thursday, August 17th. They set a “hold” rating for the company.

Read Our Latest Report on Insight Enterprises

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $149.01 on Friday. The company has a 50 day moving average price of $149.85 and a 200-day moving average price of $141.13. Insight Enterprises, Inc. has a 52 week low of $81.11 and a 52 week high of $162.05. The firm has a market capitalization of $5.30 billion, a PE ratio of 20.64, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 0.22.

Insight Enterprises (NASDAQ:NSIT – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.02). Insight Enterprises had a return on equity of 19.30% and a net margin of 2.73%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $2.78 earnings per share. The business’s revenue was down 14.4% compared to the same quarter last year. As a group, equities research analysts expect that Insight Enterprises, Inc. will post 9.5 earnings per share for the current year.

Insight Enterprises Profile

(Free Report)

Insight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software services and solutions in the United States and internationally. The company's solution portfolio includes cloud enablement, data and AI, digital strategy, intelligent applications and edge, and IoT solutions, as well as digital transformation services.