Hennessy Advisors Inc. Makes New $39.24 Million Investment in Insight Enterprises, Inc. (NASDAQ:NSIT)

Hennessy Advisors Inc. bought a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 258,000 shares of the software maker’s stock, valued at approximately $39,242,000. Insight Enterprises accounts for approximately 1.2% of Hennessy Advisors Inc.’s holdings, making the stock its 29th largest position. Hennessy Advisors Inc. owned about 0.81% of Insight Enterprises at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Insight Enterprises by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock valued at $142,073,000 after buying an additional 10,711 shares during the period. EULAV Asset Management boosted its position in shares of Insight Enterprises by 7.2% during the 3rd quarter. EULAV Asset Management now owns 49,879 shares of the software maker’s stock valued at $10,743,000 after acquiring an additional 3,359 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Insight Enterprises in the second quarter valued at about $682,000. Harbor Capital Advisors Inc. raised its position in Insight Enterprises by 65.0% in the third quarter. Harbor Capital Advisors Inc. now owns 23,578 shares of the software maker’s stock worth $5,078,000 after purchasing an additional 9,289 shares in the last quarter. Finally, Barclays PLC lifted its stake in Insight Enterprises by 178.3% during the third quarter. Barclays PLC now owns 56,402 shares of the software maker’s stock worth $12,150,000 after purchasing an additional 36,132 shares during the period.

Insight Enterprises Price Performance

Shares of Insight Enterprises stock opened at $165.24 on Friday. Insight Enterprises, Inc. has a 1-year low of $146.56 and a 1-year high of $228.07. The firm’s 50-day moving average price is $156.85 and its two-hundred day moving average price is $189.06. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.25 and a beta of 1.42.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. Insight Enterprises’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.37 EPS. On average, equities analysts predict that Insight Enterprises, Inc. will post 9.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NSIT shares. Barrington Research decreased their price objective on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Redburn Atlantic began coverage on Insight Enterprises in a research note on Friday, November 15th. They set a “buy” rating and a $220.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $212.50.

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.