ClariVest Asset Management LLC lessened its stake in shares of Insight Enterprises (NASDAQ:NSIT) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 227,509 shares of the software maker’s stock after selling 2,800 shares during the period. ClariVest Asset Management LLC owned about 0.64% of Insight Enterprises worth $7,948,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Insight Enterprises during the first quarter worth about $168,000. Victory Capital Management Inc. boosted its position in Insight Enterprises by 103.3% during the first quarter. Victory Capital Management Inc. now owns 6,974 shares of the software maker’s stock worth $244,000 after purchasing an additional 3,543 shares during the period. Trexquant Investment LP boosted its position in Insight Enterprises by 38.1% during the first quarter. Trexquant Investment LP now owns 7,254 shares of the software maker’s stock worth $253,000 after purchasing an additional 2,002 shares during the period. Stone Ridge Asset Management LLC bought a new position in Insight Enterprises during the fourth quarter worth about $416,000. Finally, Teacher Retirement System of Texas bought a new position in Insight Enterprises during the fourth quarter worth about $471,000. Institutional investors and hedge funds own 99.77% of the company’s stock.
Insight Enterprises opened at $44.30 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 1.44. Insight Enterprises has a 12 month low of $45.09 and a 12 month high of $45.97. The company has a market capitalization of $1.58 billion, a PE ratio of 13.67 and a beta of 1.39.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, May 2nd. The software maker reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.34. Insight Enterprises had a net margin of 1.57% and a return on equity of 15.75%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $0.38 earnings per share. Insight Enterprises’s revenue was up 19.3% compared to the same quarter last year. equities research analysts predict that Insight Enterprises will post 4.38 EPS for the current year.
Insight Enterprises declared that its board has approved a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, insider Steven W. Dodenhoff sold 9,678 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $45.29, for a total value of $438,316.62. Following the completion of the transaction, the insider now directly owns 34,043 shares in the company, valued at $1,541,807.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glynis Bryan sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $44.03, for a total transaction of $162,911.00. Following the completion of the transaction, the chief financial officer now owns 45,183 shares of the company’s stock, valued at $1,989,407.49. The disclosure for this sale can be found here. Insiders sold 20,878 shares of company stock valued at $940,453 over the last 90 days. 1.77% of the stock is owned by company insiders.
A number of brokerages have weighed in on NSIT. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a research report on Saturday, May 5th. B. Riley reiterated a “buy” rating and set a $53.00 target price (down previously from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. BidaskClub upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Finally, ValuEngine lowered shares of Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.00.
About Insight Enterprises
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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