Maryland State Retirement & Pension System Trims Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Maryland State Retirement & Pension System trimmed its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,064 shares of the software maker’s stock after selling 1,073 shares during the period. Maryland State Retirement & Pension System’s holdings in Insight Enterprises were worth $1,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Raymond James & Associates raised its holdings in shares of Insight Enterprises by 3.7% during the 3rd quarter. Raymond James & Associates now owns 5,602 shares of the software maker’s stock valued at $815,000 after buying an additional 199 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Insight Enterprises by 6.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,510 shares of the software maker’s stock valued at $365,000 after purchasing an additional 145 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Insight Enterprises by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 309,407 shares of the software maker’s stock worth $45,019,000 after purchasing an additional 21,953 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Insight Enterprises by 7.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,753 shares of the software maker’s stock worth $983,000 after purchasing an additional 462 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Insight Enterprises by 3.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,399 shares of the software maker’s stock valued at $2,386,000 after purchasing an additional 517 shares during the period.

Analyst Ratings Changes

A number of brokerages have weighed in on NSIT. Stifel Nicolaus increased their price target on shares of Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a report on Monday, April 15th. Barrington Research reiterated an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a report on Tuesday, April 23rd. StockNews.com raised Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd.

Insider Activity

In related news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total value of $337,939.50. Following the transaction, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the transaction, the chief accounting officer now owns 4,436 shares of the company’s stock, valued at $810,324.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathleen S. Pushor sold 1,790 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total transaction of $331,364.80. Following the sale, the director now owns 5,800 shares in the company, valued at approximately $1,073,696. The disclosure for this sale can be found here. Insiders sold a total of 20,918 shares of company stock worth $3,888,203 over the last quarter. Insiders own 1.23% of the company’s stock.

Insight Enterprises Trading Up 0.3 %

NSIT traded up $0.51 during trading on Wednesday, reaching $200.64. 9,623 shares of the company’s stock were exchanged, compared to its average volume of 243,086. The stock has a market capitalization of $6.53 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.50. Insight Enterprises, Inc. has a one year low of $122.33 and a one year high of $204.02. The firm has a fifty day moving average price of $185.19 and a two-hundred day moving average price of $175.47. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. Insight Enterprises’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. As a group, equities research analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share for the current fiscal year.

Insight Enterprises 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.