Credit Suisse AG boosted its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 33.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,820 shares of the software maker’s stock after acquiring an additional 8,729 shares during the quarter. Credit Suisse AG’s holdings in Insight Enterprises were worth $2,448,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James & Associates acquired a new stake in Insight Enterprises during the 4th quarter worth about $585,000. ProShare Advisors LLC lifted its holdings in shares of Insight Enterprises by 15.6% during the 4th quarter. ProShare Advisors LLC now owns 5,740 shares of the software maker’s stock valued at $403,000 after buying an additional 774 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Insight Enterprises by 537.9% during the 4th quarter. Citigroup Inc. now owns 39,900 shares of the software maker’s stock valued at $2,805,000 after buying an additional 33,645 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Insight Enterprises by 10.1% during the 4th quarter. Panagora Asset Management Inc. now owns 414,554 shares of the software maker’s stock valued at $29,139,000 after buying an additional 37,955 shares during the last quarter. Finally, Islay Capital Management LLC acquired a new stake in shares of Insight Enterprises during the 4th quarter valued at about $263,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.
In related news, Director Kathleen S. Pushor bought 2,000 shares of Insight Enterprises stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $54.94 per share, for a total transaction of $109,880.00. Following the acquisition, the director now owns 3,311 shares in the company, valued at $181,906.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.75% of the stock is currently owned by insiders.
Shares of Insight Enterprises stock opened at $40.26 on Thursday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 7.65 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.62 and a quick ratio of 1.52. Insight Enterprises, Inc. has a 52-week low of $28.25 and a 52-week high of $73.22. The stock has a 50-day simple moving average of $52.44 and a 200-day simple moving average of $60.34.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.04). The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.37 billion. Insight Enterprises had a net margin of 2.06% and a return on equity of 17.32%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.32 earnings per share. As a group, equities research analysts predict that Insight Enterprises, Inc. will post 6.59 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $77.00 price target on shares of Insight Enterprises in a report on Monday, February 10th. ValuEngine upgraded Insight Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Insight Enterprises from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a report on Saturday, February 15th. Finally, BidaskClub lowered Insight Enterprises from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Insight Enterprises has a consensus rating of “Hold” and an average target price of $68.00.
Insight Enterprises Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.
Recommended Story: Trading Stocks – What are percentage gainers?
Want to see what other hedge funds are holding NSIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insight Enterprises, Inc. (NASDAQ:NSIT).
Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.