Redwood Investment Management LLC Increases Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Redwood Investment Management LLC raised its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,799 shares of the software maker’s stock after buying an additional 3,178 shares during the quarter. Redwood Investment Management LLC’s holdings in Insight Enterprises were worth $2,403,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new position in shares of Insight Enterprises during the 4th quarter worth $32,000. R Squared Ltd purchased a new position in Insight Enterprises during the fourth quarter worth about $33,000. J.Safra Asset Management Corp boosted its holdings in Insight Enterprises by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock valued at $37,000 after purchasing an additional 71 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock valued at $39,000 after buying an additional 63 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Insight Enterprises by 287.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock valued at $76,000 after buying an additional 374 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Barrington Research cut their target price on Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.00.

Insight Enterprises Price Performance

Insight Enterprises stock opened at $135.72 on Thursday. The company’s 50 day simple moving average is $141.54 and its 200-day simple moving average is $155.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. Insight Enterprises, Inc. has a 1 year low of $126.10 and a 1 year high of $228.07. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the company earned $2.37 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Insight Enterprises, Inc. will post 9.89 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.