ValueAct Holdings L.P. Sells 450,000 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

ValueAct Holdings L.P. lessened its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,061,739 shares of the software maker’s stock after selling 450,000 shares during the quarter. Insight Enterprises accounts for approximately 22.6% of ValueAct Holdings L.P.’s investment portfolio, making the stock its 2nd biggest position. ValueAct Holdings L.P. owned about 12.48% of Insight Enterprises worth $805,687,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Insight Enterprises in the 2nd quarter valued at $38,000. GAMMA Investing LLC lifted its stake in shares of Insight Enterprises by 32.7% in 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 last quarter. EntryPoint Capital LLC bought a new position in shares of Insight Enterprises in the 1st quarter valued at $89,000. Blue Trust Inc. lifted its stake in shares of Insight Enterprises by 40.8% in the 2nd quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock valued at $99,000 after acquiring an additional 154 shares during the last quarter. Finally, First Foundation Advisors bought a new position in shares of Insight Enterprises in the 1st quarter valued at $195,000.

Insight Enterprises Stock Down 1.2 %

Shares of NASDAQ:NSIT opened at $211.23 on Tuesday. The firm has a market cap 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 quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. Insight Enterprises, Inc. has a 12-month low of $139.34 and a 12-month high of $228.07. The business has a fifty day simple moving average of $206.74 and a 200 day simple moving average of $198.26.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, August 1st. The software maker reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.36). Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the business earned $2.56 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Analysts predict that Insight Enterprises, Inc. will post 10.68 earnings per share for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.

Analyst Ratings Changes

NSIT has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Barrington Research reiterated an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a research note on Friday. StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. 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 research report on Friday, August 2nd.

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.