Country Trust Bank Reduces Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Country Trust Bank decreased its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,853 shares of the software maker’s stock after selling 4,204 shares during the period. Country Trust Bank owned about 0.48% of Insight Enterprises worth $33,569,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NSIT. Opal Wealth Advisors LLC purchased a new position in shares of Insight Enterprises in the second quarter valued at $38,000. GAMMA Investing LLC boosted its holdings in Insight Enterprises by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 288 shares of the software maker’s stock valued at $53,000 after acquiring an additional 71 shares during the period. EntryPoint Capital LLC purchased a new stake in Insight Enterprises in the first quarter worth $89,000. Blue Trust Inc. grew its holdings in shares of Insight Enterprises by 40.8% in the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after purchasing an additional 154 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new position in Insight Enterprises in the 2nd quarter worth about $195,000.

Analysts Set New Price Targets

NSIT has been the subject of several research reports. Barrington Research reissued an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a research report on Friday, September 20th. StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Stifel Nicolaus raised their price objective on Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd.

Insider Buying and Selling

In other news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises 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 directly owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.23% of the stock is owned by company insiders.

Insight Enterprises Stock Up 0.8 %

Shares of NASDAQ NSIT opened at $221.73 on Wednesday. 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 $7.22 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.45. Insight Enterprises, Inc. has a 12-month low of $139.34 and a 12-month high of $228.07. The stock’s fifty day simple moving average is $205.63 and its two-hundred day simple moving average is $200.53.

Insight Enterprises (NASDAQ:NSIT) last announced 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). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.47 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. Insight Enterprises’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.56 earnings per share. As a group, analysts expect that Insight Enterprises, Inc. will post 10.68 EPS for the current fiscal year.

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.