Norges Bank bought a new position in Insight Enterprises, Inc. (NASDAQ:NSIT – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 444,446 shares of the software maker’s stock, valued at approximately $36,209,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in Insight Enterprises by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 741,948 shares of the software maker’s stock valued at $60,457,000 after acquiring an additional 8,919 shares during the period. Studio Investment Management LLC increased its position in Insight Enterprises by 21.8% in the 4th quarter. Studio Investment Management LLC now owns 3,555 shares of the software maker’s stock valued at $290,000 after acquiring an additional 636 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in Insight Enterprises by 40.3% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 592 shares of the software maker’s stock valued at $48,000 after acquiring an additional 170 shares during the period. New Age Alpha Advisors LLC acquired a new position in Insight Enterprises in the 4th quarter valued at approximately $395,000. Finally, Hantz Financial Services Inc. increased its position in Insight Enterprises by 467.1% in the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the software maker’s stock valued at $66,000 after acquiring an additional 668 shares during the period.
Insight Enterprises Trading Down 0.8%
NASDAQ NSIT opened at $110.14 on Tuesday. The business has a 50 day simple moving average of $83.92 and a 200 day simple moving average of $83.26. Insight Enterprises, Inc. has a one year low of $63.62 and a one year high of $148.58. The stock has a market capitalization of $3.33 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.22 and a quick ratio of 1.17.
Analysts Set New Price Targets
Several equities analysts have issued reports on NSIT shares. Raymond James Financial upgraded shares of Insight Enterprises from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Thursday, May 7th. Canaccord Genuity Group set a $75.00 price target on Insight Enterprises in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Insight Enterprises in a research note on Thursday, April 2nd. Wall Street Zen raised Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Needham & Company LLC raised Insight Enterprises to an “overweight” rating in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Insight Enterprises presently has an average rating of “Hold” and an average price target of $100.00.
View Our Latest Analysis on Insight Enterprises
Insider Buying and Selling
In related news, CFO James A. Morgado purchased 2,290 shares of Insight Enterprises stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $87.25 per share, for a total transaction of $199,802.50. Following the completion of the acquisition, the chief financial officer owned 17,246 shares of the company’s stock, valued at $1,504,713.50. This trade represents a 15.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.21% of the company’s stock.
Insight Enterprises Profile
Insight Enterprises, Inc is a global technology provider headquartered in Tempe, Arizona. Founded in 1988, the company specializes in helping organizations harness the power of digital transformation by offering a comprehensive portfolio of IT hardware, software, cloud and licensing management solutions. Insight’s expertise spans across the full technology lifecycle, from initial strategy and consulting to implementation, integration and ongoing managed services.
At the core of Insight’s business are its consulting and professional services, which guide clients through complex technology environments and ensure optimal deployment of solutions.
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