Massachusetts Financial Services Co. MA Acquires Shares of 377,252 Insight Enterprises, Inc. (NASDAQ:NSIT)

Massachusetts Financial Services Co. MA bought a new position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 377,252 shares of the software maker’s stock, valued at approximately $57,380,000. Massachusetts Financial Services Co. MA owned about 1.19% of Insight Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Insight Enterprises during the 4th quarter worth approximately $47,585,000. Hennessy Advisors Inc. bought a new stake in shares of Insight Enterprises in the fourth quarter worth $39,242,000. Pacer Advisors Inc. raised its holdings in Insight Enterprises by 26.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock valued at $163,243,000 after acquiring an additional 225,283 shares in the last quarter. Wellington Management Group LLP raised its holdings in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock valued at $41,188,000 after acquiring an additional 107,397 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in Insight Enterprises during the 4th quarter valued at $10,643,000.

Insight Enterprises Stock Performance

Shares of NSIT opened at $132.04 on Friday. The stock has a market capitalization of $4.20 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The business’s fifty day moving average price is $159.06 and its 200 day moving average price is $171.45. 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, Inc. has a 12-month low of $128.01 and a 12-month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same period in the prior year, the company posted $2.98 EPS. Equities research analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Analysts Set New Price Targets

Separately, Barrington Research cut their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.25.

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.