Insight Enterprises, Inc. (NASDAQ:NSIT) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 119.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,882 shares of the software maker’s stock after buying an additional 2,656 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Insight Enterprises were worth $865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Insight Enterprises by 6.4% in the third quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after buying an additional 245,814 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Insight Enterprises by 3.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock valued at $112,577,000 after buying an additional 23,085 shares in the last quarter. Prudential PLC purchased a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $1,394,000. 13D Management LLC increased its position in shares of Insight Enterprises by 11.6% in the third quarter. 13D Management LLC now owns 83,953 shares of the software maker’s stock valued at $12,215,000 after buying an additional 8,721 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $58,687,000.

Insider Buying and Selling at Insight Enterprises

In other Insight Enterprises news, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the completion of the sale, the chief executive officer now directly owns 40,807 shares in the company, valued at approximately $8,205,471.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the transaction, the chief executive officer now owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Holdings L.P. Valueact sold 450,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value of $86,620,500.00. Following the completion of the transaction, the director now directly owns 4,061,739 shares in the company, valued at approximately $781,844,140.11. The disclosure for this sale can be found here. Insiders sold a total of 462,750 shares of company stock worth $89,169,833 in the last three months. 1.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Barrington Research boosted their price target on Insight Enterprises from $211.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their price target on Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a research report on Monday, April 15th.

Insight Enterprises Stock Up 0.5 %

Shares of NASDAQ:NSIT opened at $202.72 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $196.72 and a two-hundred day moving average of $188.15. The stock has a market cap of $6.60 billion, a P/E ratio of 25.50, a PEG ratio of 1.57 and a beta of 1.50. Insight Enterprises, Inc. has a 52-week low of $131.59 and a 52-week high of $212.44.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.55. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. On average, research analysts expect that Insight Enterprises, Inc. will post 10.78 earnings per share for the current 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.