Harbor Capital Advisors Inc. Buys 10,608 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Harbor Capital Advisors Inc. boosted its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 288.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,289 shares of the software maker’s stock after acquiring an additional 10,608 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Insight Enterprises were worth $2,834,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of Insight Enterprises by 4.4% in the fourth quarter. Raymond James & Associates now owns 5,846 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 244 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Insight Enterprises by 19.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,990 shares of the software maker’s stock worth $530,000 after buying an additional 480 shares during the period. Fifth Third Bancorp lifted its holdings in Insight Enterprises by 1,230.3% during the fourth quarter. Fifth Third Bancorp now owns 1,450 shares of the software maker’s stock worth $257,000 after buying an additional 1,341 shares during the period. Arizona State Retirement System lifted its holdings in Insight Enterprises by 11.2% during the fourth quarter. Arizona State Retirement System now owns 8,950 shares of the software maker’s stock worth $1,586,000 after buying an additional 900 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Insight Enterprises during the fourth quarter worth $94,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barrington Research restated an “outperform” rating and set a $225.00 target price on shares of Insight Enterprises in a report on Monday. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Stifel Nicolaus upped their target price on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd.

Insight Enterprises Stock Performance

NSIT traded up $1.35 during midday trading on Wednesday, hitting $181.80. 98,066 shares of the company were exchanged, compared to its average volume of 223,194. The company’s 50 day simple moving average is $202.95 and its 200 day simple moving average is $193.87. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.49. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. Insight Enterprises, Inc. has a 1-year low of $139.34 and a 1-year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.36). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.47 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. Insight Enterprises’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.56 earnings per share. As a group, sell-side analysts predict that Insight Enterprises, Inc. will post 10.76 earnings per share for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Adrian P. Gregory sold 2,750 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $195.83, for a total transaction of $538,532.50. Following the sale, the insider now directly owns 3,447 shares of the company’s stock, valued at approximately $675,026.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Adrian P. Gregory sold 2,750 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $195.83, for a total transaction of $538,532.50. Following the sale, the insider now directly owns 3,447 shares of the company’s stock, valued at approximately $675,026.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joyce A. Mullen sold 10,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the sale, the chief executive officer now directly owns 40,807 shares in the company, valued at $8,205,471.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,750 shares of company stock valued at $89,169,833. Company insiders own 1.23% of the company’s stock.

About Insight Enterprises

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.