Franklin Resources Inc. Reduces Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Franklin Resources Inc. lessened its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 16.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,643 shares of the software maker’s stock after selling 2,218 shares during the quarter. Franklin Resources Inc.’s holdings in Insight Enterprises were worth $2,553,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NSIT. GAMMA Investing LLC raised its stake in shares of Insight Enterprises by 72.6% in the third quarter. GAMMA Investing LLC now owns 780 shares of the software maker’s stock valued at $168,000 after acquiring an additional 328 shares during the period. Ausbil Investment Management Ltd purchased a new stake in Insight Enterprises in the 2nd quarter worth about $195,000. Coldstream Capital Management Inc. bought a new stake in Insight Enterprises in the third quarter worth about $203,000. Huntington National Bank boosted its position in shares of Insight Enterprises by 7.3% during the third quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after buying an additional 68 shares during the period. Finally, Iowa State Bank bought a new position in shares of Insight Enterprises during the third quarter valued at approximately $215,000.

Insight Enterprises Stock Performance

Insight Enterprises stock opened at $154.00 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $4.89 billion, a PE ratio of 19.37, a P/E/G ratio of 1.39 and a beta of 1.42. The company has a 50 day moving average price of $171.74 and a 200-day moving average price of $194.18. Insight Enterprises, Inc. has a fifty-two week low of $146.56 and a fifty-two week high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued 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 net margin of 3.42% and a return on equity of 19.71%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm earned $2.37 earnings per share. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities analysts forecast that Insight Enterprises, Inc. will post 9.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NSIT has been the subject of a number of recent analyst reports. Redburn Atlantic began coverage on Insight Enterprises in a report on Friday, November 15th. They set a “buy” rating and a $220.00 price objective for the company. Barrington Research lowered their target price on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $212.50.

Insight Enterprises 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.