Ritholtz Wealth Management Buys 509 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Ritholtz Wealth Management boosted its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,983 shares of the software maker’s stock after buying an additional 509 shares during the quarter. Ritholtz Wealth Management’s holdings in Insight Enterprises were worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the second quarter valued at about $38,000. GAMMA Investing LLC lifted its stake in Insight Enterprises by 32.7% in the first quarter. GAMMA Investing LLC now owns 288 shares of the software maker’s stock worth $53,000 after acquiring an additional 71 shares during the period. EntryPoint Capital LLC purchased a new position in Insight Enterprises during the first quarter valued at $89,000. Blue Trust Inc. lifted its position in Insight Enterprises by 40.8% during the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock valued at $99,000 after buying an additional 154 shares during the period. Finally, First Foundation Advisors bought a new position in shares of Insight Enterprises during the first quarter valued at $195,000.

Insight Enterprises Price Performance

Shares of NSIT stock opened at $214.43 on Monday. The stock has a fifty day simple moving average of $206.68 and a two-hundred day simple moving average of $201.27. Insight Enterprises, Inc. has a twelve month low of $139.34 and a twelve month high of $228.07. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 1.75 and a beta of 1.45.

Insight Enterprises (NASDAQ:NSIT) last released its 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). Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the firm posted $2.56 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts predict that Insight Enterprises, Inc. will post 10.68 EPS for the current fiscal year.

Insider Activity at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NSIT. Barrington Research restated an “outperform” rating and set a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. cut their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th.

Insight Enterprises 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.