Frontier Capital Management Co. LLC Cuts Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Frontier Capital Management Co. LLC reduced its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,393 shares of the software maker’s stock after selling 15,486 shares during the quarter. Frontier Capital Management Co. LLC owned 0.59% of Insight Enterprises worth $28,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NSIT. Golden State Wealth Management LLC purchased a new position in shares of Insight Enterprises in the fourth quarter worth $32,000. R Squared Ltd purchased a new position in shares of Insight Enterprises in the fourth quarter valued at about $33,000. J.Safra Asset Management Corp raised its stake in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock valued at $37,000 after acquiring an additional 71 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after purchasing an additional 63 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Insight Enterprises by 287.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock worth $76,000 after purchasing an additional 374 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Barrington Research dropped their price target on Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $185.00.

Insight Enterprises Stock Performance

Shares of Insight Enterprises stock opened at $136.33 on Friday. The firm has a market capitalization of $4.35 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.40 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The business has a fifty day simple moving average of $142.99 and a two-hundred day simple moving average of $157.38.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, May 1st. The software maker reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.37 earnings per share. On average, equities analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

About Insight Enterprises

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.