SG Americas Securities LLC trimmed its stake in Insight Enterprises, Inc. (NASDAQ:NSIT – Get Rating) by 79.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,912 shares of the software maker’s stock after selling 31,140 shares during the period. SG Americas Securities LLC’s holdings in Insight Enterprises were worth $849,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of NSIT. Lazard Asset Management LLC acquired a new stake in Insight Enterprises in the 4th quarter worth $28,000. EverSource Wealth Advisors LLC acquired a new stake in Insight Enterprises in the 4th quarter worth $31,000. Cassady Schiller Wealth Management LLC acquired a new stake in Insight Enterprises in the 4th quarter worth $53,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Insight Enterprises by 590.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,444 shares of the software maker’s stock worth $154,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Valmark Advisers Inc. acquired a new stake in Insight Enterprises in the 4th quarter worth $203,000.
Insider Activity at Insight Enterprises
In related news, insider Samuel C. Cowley sold 5,343 shares of Insight Enterprises stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $100.68, for a total transaction of $537,933.24. Following the completion of the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately $2,517,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insight Enterprises news, insider Samuel C. Cowley sold 5,343 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $100.68, for a total value of $537,933.24. Following the completion of the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at $2,517,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Holdings L.P. Valueact bought 40,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $99.30 per share, with a total value of $3,972,000.00. Following the completion of the purchase, the director now owns 3,583,143 shares of the company’s stock, valued at approximately $355,806,099.90. The disclosure for this purchase can be found here. Insiders bought 298,883 shares of company stock valued at $29,223,189 in the last ninety days. Insiders own 1.61% of the company’s stock.
Insight Enterprises Price Performance
Insight Enterprises (NASDAQ:NSIT – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. Insight Enterprises had a net margin of 2.35% and a return on equity of 18.24%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $1.30 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that Insight Enterprises, Inc. will post 8.05 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on NSIT shares. JPMorgan Chase & Co. started coverage on shares of Insight Enterprises in a research report on Thursday, July 14th. They set a “neutral” rating and a $98.00 target price on the stock. StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th.
Insight Enterprises Company Profile
IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.
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