Lazard Asset Management LLC Acquires 7,018 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Lazard Asset Management LLC grew its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 128.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,463 shares of the software maker’s stock after acquiring an additional 7,018 shares during the quarter. Lazard Asset Management LLC’s holdings in Insight Enterprises were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NSIT. Massachusetts Financial Services Co. MA purchased a new position in shares of Insight Enterprises in the 4th quarter worth about $57,380,000. Norges Bank purchased a new position in shares of Insight Enterprises in the 4th quarter worth about $47,585,000. Pacer Advisors Inc. boosted its holdings in shares of Insight Enterprises by 26.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock worth $163,243,000 after buying an additional 225,283 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $41,188,000 after buying an additional 107,397 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Insight Enterprises in the 4th quarter worth about $15,220,000.

Insight Enterprises Trading Up 1.8%

Shares of Insight Enterprises stock opened at $137.08 on Friday. Insight Enterprises, Inc. has a 12-month low of $126.10 and a 12-month high of $228.07. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 21.02, a PEG 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. The company’s 50-day moving average price is $140.69 and its 200-day moving average price is $153.94.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data 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. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $2.37 earnings per share. Insight Enterprises’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, equities analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NSIT. Barrington Research cut their price target on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and two have 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 an average price target of $185.00.

Insight Enterprises Company Profile

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.