State of Alaska Department of Revenue cut its position in Insight Enterprises, Inc. (NASDAQ:NSIT – Free Report) by 43.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,481 shares of the software maker’s stock after selling 5,046 shares during the quarter. State of Alaska Department of Revenue’s holdings in Insight Enterprises were worth $1,012,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NSIT. ZWJ Investment Counsel Inc. boosted its position in shares of Insight Enterprises by 4.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,368 shares of the software maker’s stock worth $526,000 after acquiring an additional 155 shares in the last quarter. Diversified Management Inc. bought a new position in Insight Enterprises in the third quarter valued at approximately $2,611,000. GAMMA Investing LLC increased its stake in Insight Enterprises by 44.3% in the third quarter. GAMMA Investing LLC now owns 941 shares of the software maker’s stock valued at $147,000 after acquiring an additional 289 shares during the last quarter. Farther Finance Advisors LLC raised its position in Insight Enterprises by 35.2% during the third quarter. Farther Finance Advisors LLC now owns 338 shares of the software maker’s stock valued at $53,000 after purchasing an additional 88 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new position in Insight Enterprises during the third quarter valued at approximately $1,142,000.
Analysts Set New Price Targets
NSIT has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $175.00 target price on shares of Insight Enterprises in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Insight Enterprises from $135.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Zacks Research lowered Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen cut Insight Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Finally, Weiss Ratings upgraded Insight Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $147.50.
Insight Enterprises Stock Up 4.2%
NSIT stock opened at $171.19 on Thursday. The firm has a 50-day moving average price of $157.93 and a 200-day moving average price of $122.82. Insight Enterprises, Inc. has a 12 month low of $63.62 and a 12 month high of $177.34. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $5.02 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06.
Insight Enterprises (NASDAQ:NSIT – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.93. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.18 billion. Insight Enterprises had a net margin of 2.45% and a return on equity of 22.70%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 EPS. Insight Enterprises has set its FY 2026 guidance at 12.200-12.700 EPS. As a group, equities research analysts anticipate that Insight Enterprises, Inc. will post 11.50 EPS for the current fiscal year.
Insider Buying and Selling
In other Insight Enterprises news, General Counsel Karim Adatia sold 248 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $157.40, for a total value of $39,035.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.21% of the stock is currently owned by insiders.
About Insight Enterprises
Insight Enterprises, Inc is a global technology solutions provider that helps businesses and public-sector organizations plan, acquire, implement and manage information technology. The company offers hardware, software and cloud solutions, along with consulting, systems integration, managed services and technical support.
Its portfolio includes workplace and data-center technologies, cloud and data-center modernization, cybersecurity, networking, data and artificial intelligence solutions, and software licensing and asset management.
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