BlackRock Inc. raised its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,667,177 shares of the software maker’s stock after buying an additional 143,348 shares during the period. BlackRock Inc. owned 13.05% of Insight Enterprises worth $186,642,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of NSIT. Bank of New York Mellon Corp boosted its position in Insight Enterprises by 32.1% in the first quarter. Bank of New York Mellon Corp now owns 592,543 shares of the software maker’s stock valued at $24,348,000 after buying an additional 144,059 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Insight Enterprises by 117.4% in the first quarter. UBS Asset Management Americas Inc. now owns 17,604 shares of the software maker’s stock valued at $723,000 after buying an additional 9,505 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Insight Enterprises in the first quarter valued at approximately $486,000. Sei Investments Co. boosted its position in Insight Enterprises by 105.2% in the first quarter. Sei Investments Co. now owns 15,492 shares of the software maker’s stock valued at $636,000 after buying an additional 7,944 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Insight Enterprises in the first quarter valued at approximately $123,000. Hedge funds and other institutional investors own 97.02% of the company’s stock.
A number of brokerages have weighed in on NSIT. B. Riley upgraded shares of Insight Enterprises to a “buy” rating and set a $54.50 target price on the stock in a research report on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Saturday, August 5th. Finally, BidaskClub downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.50.
ILLEGAL ACTIVITY WARNING: “Insight Enterprises, Inc. (NSIT) Shares Bought by BlackRock Inc.” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://sportsperspectives.com/2017/10/11/insight-enterprises-inc-nsit-shares-bought-by-blackrock-inc.html.
Insight Enterprises, Inc. (NASDAQ:NSIT) opened at 44.70 on Wednesday. Insight Enterprises, Inc. has a 1-year low of $28.15 and a 1-year high of $53.19. The company has a market cap of $1.60 billion, a P/E ratio of 16.60 and a beta of 1.67. The stock’s 50 day moving average is $41.82 and its 200 day moving average is $41.87.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Equities analysts anticipate that Insight Enterprises, Inc. will post $3.23 earnings per share for the current fiscal year.
In other news, CFO Glynis Bryan sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $41.90, for a total value of $209,500.00. Following the completion of the sale, the chief financial officer now owns 30,797 shares of the company’s stock, valued at approximately $1,290,394.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.38% of the stock is currently owned by corporate insiders.
About Insight Enterprises
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
Receive News & Ratings for Insight Enterprises Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises Inc. and related companies with MarketBeat.com's FREE daily email newsletter.