State of New Jersey Common Pension Fund D Sells 6,941 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

State of New Jersey Common Pension Fund D trimmed its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 41.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,876 shares of the software maker’s stock after selling 6,941 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Insight Enterprises were worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSIT. Texas Permanent School Fund Corp raised its holdings in shares of Insight Enterprises by 43.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,823 shares of the software maker’s stock worth $6,907,000 after buying an additional 10,589 shares during the period. Choreo LLC purchased a new stake in shares of Insight Enterprises during the second quarter valued at $389,000. Quest Partners LLC grew its holdings in shares of Insight Enterprises by 646.4% in the second quarter. Quest Partners LLC now owns 5,568 shares of the software maker’s stock worth $1,104,000 after purchasing an additional 4,822 shares during the last quarter. Paralel Advisors LLC purchased a new position in Insight Enterprises in the 2nd quarter worth about $2,441,000. Finally, Caprock Group LLC lifted its holdings in Insight Enterprises by 21.2% during the 2nd quarter. Caprock Group LLC now owns 3,168 shares of the software maker’s stock valued at $628,000 after buying an additional 554 shares in the last quarter.

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $213.84 on Friday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.54 and a beta of 1.46. Insight Enterprises, Inc. has a 52-week low of $139.34 and a 52-week high of $228.07. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $206.68 and its 200 day moving average is $198.01.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.56 earnings per share. On average, sell-side analysts anticipate that Insight Enterprises, Inc. will post 10.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now directly owns 5,460 shares in the company, valued at $1,124,923.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Barrington Research reiterated an “outperform” rating and issued a $225.00 target price on shares of Insight Enterprises in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd.

About Insight Enterprises

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.