State Board of Administration of Florida Retirement System decreased its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,157 shares of the software maker’s stock after selling 1,400 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Insight Enterprises were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Seizert Capital Partners LLC purchased a new position in shares of Insight Enterprises during the first quarter valued at $2,874,000. Janus Henderson Group PLC grew its stake in Insight Enterprises by 115.8% in the fourth quarter. Janus Henderson Group PLC now owns 546,223 shares of the software maker’s stock valued at $41,562,000 after purchasing an additional 293,099 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Insight Enterprises by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 17,491 shares of the software maker’s stock valued at $1,669,000 after purchasing an additional 475 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Insight Enterprises in the first quarter valued at about $1,381,000. Finally, IndexIQ Advisors LLC grew its stake in Insight Enterprises by 11.5% in the fourth quarter. IndexIQ Advisors LLC now owns 4,971 shares of the software maker’s stock valued at $378,000 after purchasing an additional 513 shares in the last quarter.
Shares of NASDAQ:NSIT opened at $105.48 on Friday. Insight Enterprises, Inc. has a fifty-two week low of $44.15 and a fifty-two week high of $106.44. The business has a 50-day moving average of $101.08. The firm has a market capitalization of $3.73 billion, a PE ratio of 20.68, a P/E/G ratio of 1.56 and a beta of 1.83. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.30.
A number of brokerages have commented on NSIT. Zacks Investment Research downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, May 8th. Barrington Research boosted their target price on Insight Enterprises from $102.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Insight Enterprises presently has a consensus rating of “Buy” and an average price target of $96.88.
Insight Enterprises Company Profile
Insight Enterprises, Inc provides information technology hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides solutions to gain insights to network enabled devices, and spots patterns and trends through mass analysis; custom applications to help clients create disruption; custom-developed mobile, cloud, and IoT applications; and custom-developed solutions to help clients review actionable insights within their data, including artificial intelligence for prediction, optimization, cognitive, and vision services.
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