Edgestream Partners L.P. Reduces Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Edgestream Partners L.P. reduced its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,757 shares of the software maker’s stock after selling 6,069 shares during the period. Edgestream Partners L.P.’s holdings in Insight Enterprises were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $532,000. Assetmark Inc. increased its stake in shares of Insight Enterprises by 27.7% in the 4th quarter. Assetmark Inc. now owns 18,144 shares of the software maker’s stock valued at $2,760,000 after purchasing an additional 3,940 shares in the last quarter. J.Safra Asset Management Corp raised 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 worth $37,000 after purchasing an additional 71 shares during the period. Cornerstone Investment Partners LLC boosted its position in Insight Enterprises by 5.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,371 shares of the software maker’s stock worth $209,000 after purchasing an additional 75 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Insight Enterprises by 287.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock worth $76,000 after purchasing an additional 374 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Redburn Atlantic assumed coverage on Insight Enterprises in a research note on Friday, November 15th. They set a “buy” rating and a $220.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Insight Enterprises currently has a consensus rating of “Hold” and an average target price of $212.50.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT opened at $156.31 on Friday. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. Insight Enterprises, Inc. has a 52 week low of $146.56 and a 52 week high of $228.07. The firm has a 50-day simple moving average of $162.58 and a 200-day simple moving average of $179.51. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.13. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. During the same quarter in the previous year, the company posted $2.98 EPS. On average, equities analysts predict that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

About Insight Enterprises

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.