Bank of America Corp DE reduced its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,697 shares of the software maker’s stock after selling 2,412 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Insight Enterprises worth $3,948,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of Insight Enterprises by 7,465.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,253 shares of the software maker’s stock worth $159,000 after acquiring an additional 3,210 shares during the period. CIBC Asset Management Inc bought a new position in shares of Insight Enterprises during the 2nd quarter worth approximately $218,000. Eqis Capital Management Inc. bought a new position in shares of Insight Enterprises during the 2nd quarter worth approximately $219,000. Amalgamated Bank bought a new position in shares of Insight Enterprises during the 2nd quarter worth approximately $263,000. Finally, 6 Meridian bought a new stake in Insight Enterprises in the 2nd quarter valued at $276,000. Institutional investors own 95.60% of the company’s stock.
Several research firms recently issued reports on NSIT. Zacks Investment Research downgraded Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. B. Riley boosted their price target on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, BidaskClub upgraded Insight Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 29th.
NSIT opened at $51.69 on Thursday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 15.95 and a beta of 1.28. Insight Enterprises, Inc. has a 1 year low of $32.10 and a 1 year high of $56.86. The company has a quick ratio of 1.28, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, August 1st. The software maker reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.19. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. Insight Enterprises had a return on equity of 16.42% and a net margin of 1.69%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, research analysts expect that Insight Enterprises, Inc. will post 4.54 EPS for the current fiscal year.
Insight Enterprises Company Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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