Norges Bank Acquires Shares of 312,854 Insight Enterprises, Inc. (NASDAQ:NSIT)

Norges Bank bought a new position in Insight Enterprises, Inc. (NASDAQ:NSIT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 312,854 shares of the software maker’s stock, valued at approximately $47,585,000. Norges Bank owned 0.99% of Insight Enterprises as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Insight Enterprises by 1.7% in the third 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 in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Insight Enterprises during the 4th quarter worth $2,494,000. Principal Financial Group Inc. grew its stake in shares of Insight Enterprises by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker’s stock worth $21,833,000 after purchasing an additional 1,653 shares during the period. Rhumbline Advisers increased its holdings in shares of Insight Enterprises by 2.4% in the 4th quarter. Rhumbline Advisers now owns 82,198 shares of the software maker’s stock valued at $12,502,000 after purchasing an additional 1,925 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in shares of Insight Enterprises in the fourth quarter valued at about $449,000.

Insight Enterprises Stock Performance

NASDAQ:NSIT opened at $132.04 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.20 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The firm has a 50-day moving average price of $159.06 and a two-hundred day moving average price of $171.73. Insight Enterprises, Inc. has a twelve month low of $128.01 and a twelve month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same quarter in the previous year, the business posted $2.98 earnings per share. As a group, research analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research lowered their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $202.25.

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.