Insight Enterprises, Inc. (NASDAQ:NSIT) Shares Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC boosted its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,799 shares of the software maker’s stock after buying an additional 3,178 shares during the quarter. Redwood Investment Management LLC’s holdings in Insight Enterprises were worth $2,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Insight Enterprises during the fourth quarter worth $57,380,000. Norges Bank purchased a new stake in Insight Enterprises during the 4th quarter worth about $47,585,000. Hennessy Advisors Inc. acquired a new stake in Insight Enterprises in the 4th quarter valued at about $39,242,000. Pacer Advisors Inc. raised its position in Insight Enterprises by 26.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock valued at $163,243,000 after purchasing an additional 225,283 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Insight Enterprises by 65.7% in the 4th quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock valued at $41,188,000 after buying an additional 107,397 shares during the period.

Insight Enterprises Stock Down 2.0%

Shares of NASDAQ NSIT opened at $135.72 on Thursday. The business has a 50-day moving average of $141.54 and a two-hundred day moving average of $155.29. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. Insight Enterprises, Inc. has a 1 year low of $126.10 and a 1 year high of $228.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.18 and a quick ratio of 1.15.

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

Analyst Upgrades and Downgrades

NSIT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Barrington Research lowered their price target on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insight Enterprises presently has a consensus rating of “Hold” and an average target price of $185.00.

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.