Needham Investment Management LLC Takes $1.08 Million Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Needham Investment Management LLC bought a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,000 shares of the software maker’s stock, valued at approximately $1,077,000.

Other hedge funds have also bought and sold shares of the company. Xponance Inc. raised its stake in Insight Enterprises by 2.5% in the second quarter. Xponance Inc. now owns 2,114 shares of the software maker’s stock valued at $419,000 after buying an additional 52 shares during the period. Tevis Investment Management increased its holdings in shares of Insight Enterprises by 3.5% during the 2nd quarter. Tevis Investment Management now owns 1,774 shares of the software maker’s stock worth $352,000 after acquiring an additional 60 shares during the last quarter. One Wealth Advisors LLC increased its holdings in shares of Insight Enterprises by 4.7% during the 3rd quarter. One Wealth Advisors LLC now owns 1,379 shares of the software maker’s stock worth $297,000 after acquiring an additional 62 shares during the last quarter. Huntington National Bank raised its stake in Insight Enterprises by 7.3% in the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after acquiring an additional 68 shares during the period. Finally, Hanseatic Management Services Inc. lifted its holdings in Insight Enterprises by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,854 shares of the software maker’s stock valued at $764,000 after purchasing an additional 69 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on NSIT. Redburn Atlantic assumed coverage on shares of Insight Enterprises in a report on Friday, November 15th. They issued a “buy” rating and a $220.00 price objective on the stock. Barrington Research lowered their price target on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $212.50.

Insight Enterprises Price Performance

NASDAQ:NSIT opened at $160.01 on Wednesday. Insight Enterprises, Inc. has a 52 week low of $146.56 and a 52 week high of $228.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24. The firm’s 50-day simple moving average is $188.97 and its 200 day simple moving average is $198.73. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.40 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The company had revenue of $2.09 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.37 EPS. As a group, sell-side analysts predict that Insight Enterprises, Inc. will post 9.55 earnings per share for the current year.

Insight Enterprises 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.