Summit Trail Advisors LLC Decreases Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Summit Trail Advisors LLC cut its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 5.2% in the third quarter, HoldingsChannel reports. The firm owned 4,106 shares of the software maker’s stock after selling 227 shares during the quarter. Summit Trail Advisors LLC’s holdings in Insight Enterprises were worth $884,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NSIT. Charles Schwab Investment Management Inc. grew its stake in shares of Insight Enterprises by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 368,951 shares of the software maker’s stock worth $79,468,000 after buying an additional 85,428 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Insight Enterprises by 14.7% during the second quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker’s stock worth $56,790,000 after acquiring an additional 36,790 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Insight Enterprises by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 192,551 shares of the software maker’s stock worth $41,474,000 after acquiring an additional 709 shares during the last quarter. Country Trust Bank raised its position in Insight Enterprises by 0.5% during the second quarter. Country Trust Bank now owns 160,057 shares of the software maker’s stock valued at $31,749,000 after purchasing an additional 830 shares during the period. Finally, F M Investments LLC bought a new stake in shares of Insight Enterprises in the 2nd quarter valued at approximately $17,258,000.

Wall Street Analysts Forecast Growth

NSIT has been the topic of several analyst reports. Redburn Atlantic started coverage on Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Barrington Research lowered their target price on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $212.50.

Insight Enterprises Stock Performance

Shares of Insight Enterprises stock opened at $154.97 on Tuesday. Insight Enterprises, Inc. has a 52 week low of $146.56 and a 52 week high of $228.07. The company has a market capitalization of $4.92 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The stock’s fifty day moving average is $196.66 and its two-hundred day moving average is $201.17. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.18). The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.37 EPS. As a group, analysts expect that Insight Enterprises, Inc. will post 9.55 earnings per share for the current year.

Insight Enterprises Company 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.