Victory Capital Management Inc. Has $13.53 Million Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Victory Capital Management Inc. decreased its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,824 shares of the software maker’s stock after selling 2,748 shares during the period. Victory Capital Management Inc.’s holdings in Insight Enterprises were worth $13,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Insight Enterprises by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,871,959 shares of the software maker’s stock valued at $718,326,000 after purchasing an additional 13,072 shares during the period. Capital World Investors increased its position in shares of Insight Enterprises by 27.8% during the first quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock worth $398,700,000 after buying an additional 467,088 shares during the period. Capital Research Global Investors raised its stake in Insight Enterprises by 54.9% during the first quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock worth $168,398,000 after buying an additional 321,780 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Insight Enterprises by 14.7% in the second quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker’s stock valued at $56,790,000 after buying an additional 36,790 shares during the period. Finally, Capital International Investors bought a new stake in Insight Enterprises during the first quarter valued at $33,765,000.

Insight Enterprises Price Performance

NSIT stock opened at $149.61 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20. The company’s 50-day moving average is $199.82 and its 200-day moving average is $202.22. The stock has a market capitalization of $4.75 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. Insight Enterprises, Inc. has a 1 year low of $147.28 and a 1 year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $2.37 EPS. The firm’s revenue was down 7.9% on a year-over-year basis. Equities research analysts expect that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NSIT shares. JPMorgan Chase & Co. lowered their price objective on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Redburn Atlantic initiated coverage on Insight Enterprises in a report on Friday, November 15th. They issued a “buy” rating and a $220.00 target price for the company. Finally, Barrington Research dropped their price target on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $212.50.

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.