Millennium Management LLC lifted its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 474,963 shares of the software maker’s stock after acquiring an additional 51,675 shares during the quarter. Millennium Management LLC owned approximately 1.34% of Insight Enterprises worth $23,240,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Insight Enterprises by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 282,784 shares of the software maker’s stock valued at $9,878,000 after acquiring an additional 6,535 shares during the period. Citadel Advisors LLC grew its stake in shares of Insight Enterprises by 22.1% during the 2nd quarter. Citadel Advisors LLC now owns 99,587 shares of the software maker’s stock valued at $4,872,000 after acquiring an additional 17,999 shares during the period. Tieton Capital Management LLC bought a new position in shares of Insight Enterprises during the 2nd quarter valued at approximately $2,875,000. Smith Asset Management Group LP bought a new position in shares of Insight Enterprises during the 2nd quarter valued at approximately $2,105,000. Finally, GSA Capital Partners LLP grew its stake in shares of Insight Enterprises by 264.8% during the 1st quarter. GSA Capital Partners LLP now owns 30,021 shares of the software maker’s stock valued at $1,049,000 after acquiring an additional 21,791 shares during the period. Institutional investors own 95.05% of the company’s stock.
In other Insight Enterprises news, Director Anthony Ibarguen sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total value of $267,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Dodenhoff sold 4,827 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $56.57, for a total value of $273,063.39. Following the completion of the transaction, the insider now owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The disclosure for this sale can be found here. Insiders sold a total of 15,827 shares of company stock valued at $859,173 over the last 90 days. 1.77% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:NSIT opened at $54.02 on Thursday. The company has a market cap of $1.92 billion, a P/E ratio of 13.77 and a beta of 1.25. 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, Inc. has a 12-month low of $32.10 and a 12-month high of $56.86.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, August 1st. The software maker reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.19. Insight Enterprises had a return on equity of 16.42% and a net margin of 1.69%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts expect that Insight Enterprises, Inc. will post 4.54 earnings per share for the current year.
A number of research analysts recently issued reports on NSIT shares. B. Riley boosted their price objective on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. BidaskClub downgraded Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research downgraded Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th.
Insight Enterprises 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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