Pearl River Capital LLC Makes New Investment in Insight Enterprises, Inc. (NASDAQ:NSIT)

Pearl River Capital LLC acquired a new position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,560 shares of the software maker’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSIT. Raymond James & Associates lifted its stake in shares of Insight Enterprises by 14.3% in the 1st quarter. Raymond James & Associates now owns 3,020 shares of the software maker’s stock valued at $324,000 after purchasing an additional 377 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Insight Enterprises in the first quarter valued at about $410,000. Bank of Montreal Can increased its stake in Insight Enterprises by 7.6% in the first quarter. Bank of Montreal Can now owns 11,631 shares of the software maker’s stock valued at $1,268,000 after acquiring an additional 826 shares during the period. MetLife Investment Management LLC increased its stake in Insight Enterprises by 54.0% in the first quarter. MetLife Investment Management LLC now owns 18,092 shares of the software maker’s stock valued at $1,942,000 after acquiring an additional 6,347 shares during the period. Finally, Rhumbline Advisers increased its stake in Insight Enterprises by 2.5% in the first quarter. Rhumbline Advisers now owns 101,604 shares of the software maker’s stock valued at $10,904,000 after acquiring an additional 2,524 shares during the period.

Wall Street Analyst Weigh In

NSIT has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Insight Enterprises in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Barrington Research upped their target price on shares of Insight Enterprises from $146.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, August 14th.

Insight Enterprises Price Performance

NSIT traded up $0.99 during trading on Friday, hitting $161.08. The company’s stock had a trading volume of 13,509 shares, compared to its average volume of 274,565. The firm’s 50 day moving average price is $147.87 and its two-hundred day moving average price is $138.92. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Insight Enterprises, Inc. has a 12 month low of $81.11 and a 12 month high of $162.05.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.02). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.44 billion. Insight Enterprises had a net margin of 2.73% and a return on equity of 19.30%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.78 earnings per share. Sell-side analysts forecast that Insight Enterprises, Inc. will post 9.5 earnings per share for the current fiscal year.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software services and solutions in the United States and internationally. The company's solution portfolio includes cloud enablement, data and AI, digital strategy, intelligent applications and edge, and IoT solutions, as well as digital transformation services.