First Trust Advisors LP decreased its stake in Insight Enterprises Inc. (NASDAQ:NSIT) by 27.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,208 shares of the company’s stock after selling 17,553 shares during the period. First Trust Advisors LP owned approximately 0.13% of Insight Enterprises worth $1,227,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NSIT. Los Angeles Capital Management & Equity Research Inc. increased its position in Insight Enterprises by 2.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,511 shares of the company’s stock valued at $1,303,000 after buying an additional 900 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Insight Enterprises by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 190,027 shares of the company’s stock valued at $5,442,000 after buying an additional 17,137 shares during the last quarter. Prudential Financial Inc. increased its position in Insight Enterprises by 25.3% in the first quarter. Prudential Financial Inc. now owns 278,422 shares of the company’s stock valued at $7,974,000 after buying an additional 56,175 shares during the last quarter. BlackRock Group LTD increased its position in Insight Enterprises by 6.3% in the first quarter. BlackRock Group LTD now owns 54,735 shares of the company’s stock valued at $1,567,000 after buying an additional 3,256 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in Insight Enterprises by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,362,750 shares of the company’s stock valued at $67,669,000 after buying an additional 26,776 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.
Shares of Insight Enterprises Inc. (NASDAQ:NSIT) traded up 2.39% during mid-day trading on Friday, hitting $32.55. 230,356 shares of the stock traded hands. Insight Enterprises Inc. has a 1-year low of $18.26 and a 1-year high of $32.77. The company’s 50-day moving average price is $31.05 and its 200 day moving average price is $28.06. The company has a market capitalization of $1.15 billion, a PE ratio of 14.92 and a beta of 1.86.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 3rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.75 by $0.22. Insight Enterprises had a net margin of 1.52% and a return on equity of 12.71%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Insight Enterprises Inc. will post $2.43 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th.
In related news, Director Michael M. Fisher sold 2,100 shares of Insight Enterprises stock in a transaction on Monday, August 8th. The shares were sold at an average price of $30.93, for a total value of $64,953.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robertson C. Jones sold 4,438 shares of Insight Enterprises stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $30.94, for a total transaction of $137,311.72. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by corporate insiders.
About Insight Enterprises
Insight Enterprises, Inc is a provider of hardware, software, Cloud and service solutions to business, government, healthcare and educational clients. The Company consults, designs, implements and manages integrated information technology (IT) solutions for its clients. These solutions include services and products designed to support networking, collaboration, storage, security, Cloud, mobility, converged infrastructure and other advanced technologies.
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