Jennison Associates LLC Makes New Investment in Insight Enterprises, Inc. (NASDAQ:NSIT)

Jennison Associates LLC acquired a new stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,958 shares of the software maker’s stock, valued at approximately $637,000.

Several other large investors have also recently modified their holdings of NSIT. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the 2nd quarter valued at about $38,000. GAMMA Investing LLC grew its holdings in shares of Insight Enterprises by 56.9% in the second quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after purchasing an additional 164 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Insight Enterprises by 40.8% in the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after purchasing an additional 154 shares during the last quarter. Ausbil Investment Management Ltd purchased a new position in shares of Insight Enterprises in the second quarter worth $195,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Insight Enterprises during the 2nd quarter valued at $200,000.

Analyst Ratings Changes

NSIT has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on shares of Insight Enterprises in a research note on Friday, November 15th. They set a “buy” rating and a $220.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Barrington Research dropped their price objective on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insight Enterprises presently has an average rating of “Hold” and a consensus price target of $212.50.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT opened at $151.11 on Friday. Insight Enterprises, Inc. has a 1 year low of $146.56 and a 1 year high of $228.07. The stock has a market capitalization of $4.80 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.31 and a beta of 1.48. The company’s 50-day moving average is $196.66 and its 200 day moving average is $201.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the company posted $2.37 EPS. The firm’s revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts expect that Insight Enterprises, Inc. will post 9.55 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.