Everence Capital Management Inc. Decreases Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Everence Capital Management Inc. lessened its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,720 shares of the software maker’s stock after selling 1,210 shares during the period. Everence Capital Management Inc.’s holdings in Insight Enterprises were worth $718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NSIT. GAMMA Investing LLC raised its position in Insight Enterprises by 72.6% in the third quarter. GAMMA Investing LLC now owns 780 shares of the software maker’s stock valued at $168,000 after purchasing an additional 328 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of Insight Enterprises during the 3rd quarter valued at about $203,000. Huntington National Bank lifted its position in Insight Enterprises by 7.3% during the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker’s stock worth $214,000 after acquiring an additional 68 shares in the last quarter. Iowa State Bank purchased a new position in Insight Enterprises in the 3rd quarter worth approximately $215,000. Finally, Atria Investments Inc acquired a new stake in Insight Enterprises in the third quarter valued at approximately $215,000.

Insight Enterprises Price Performance

Shares of NSIT stock opened at $149.39 on Friday. The firm has a fifty day moving average of $161.28 and a two-hundred day moving average of $191.58. The firm has a market cap of $4.74 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.39 and a beta of 1.42. Insight Enterprises, Inc. has a 1-year low of $146.56 and a 1-year high of $228.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20.

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

Analysts Set New Price Targets

NSIT has been the topic of a number of recent research reports. Redburn Atlantic started coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 target price on the stock. Barrington Research cut their price objective on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Insight Enterprises currently has an average rating of “Hold” and a consensus price target of $212.50.

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.