Paradigm Capital Management Inc. NY Cuts Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Paradigm Capital Management Inc. NY cut its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,150 shares of the software maker’s stock after selling 3,000 shares during the quarter. Insight Enterprises makes up 5.4% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 5th largest holding. Paradigm Capital Management Inc. NY owned about 1.83% of Insight Enterprises worth $118,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Xponance Inc. grew its position in shares of Insight Enterprises by 2.5% during the second quarter. Xponance Inc. now owns 2,114 shares of the software maker’s stock worth $419,000 after acquiring an additional 52 shares during the last quarter. Bank of Montreal Can boosted its stake in Insight Enterprises by 102.3% during the 2nd quarter. Bank of Montreal Can now owns 9,134 shares of the software maker’s stock valued at $1,861,000 after purchasing an additional 4,620 shares during the period. Public Sector Pension Investment Board grew its position in Insight Enterprises by 7.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 60,861 shares of the software maker’s stock worth $12,072,000 after purchasing an additional 4,102 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Insight Enterprises by 51.8% in the second quarter. Summit Trail Advisors LLC now owns 4,333 shares of the software maker’s stock valued at $859,000 after purchasing an additional 1,479 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Insight Enterprises during the second quarter valued at approximately $2,796,000.

Insider Buying and Selling at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises 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 transaction, the insider now directly owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

Insight Enterprises Price Performance

NASDAQ NSIT opened at $211.23 on Tuesday. The stock has a market capitalization of $6.88 billion, a P/E ratio of 26.57, a P/E/G ratio of 1.54 and a beta of 1.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22. The business’s fifty day moving average is $206.74 and its two-hundred day moving average is $198.26. Insight Enterprises, Inc. has a 1 year low of $139.34 and a 1 year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, August 1st. The software maker reported $2.46 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.36). The company had revenue of $2.16 billion for 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 for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.56 earnings per share. On average, research analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insight Enterprises Company 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.