Macquarie Group Ltd. Invests $108,000 in Insight Enterprises, Inc. (NSIT)

Share on StockTwits

Macquarie Group Ltd. bought a new position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,200 shares of the software maker’s stock, valued at approximately $108,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Insight Enterprises by 2.4% during the first quarter. Principal Financial Group Inc. now owns 282,784 shares of the software maker’s stock worth $9,878,000 after purchasing an additional 6,535 shares in the last quarter. Tieton Capital Management LLC purchased a new stake in shares of Insight Enterprises during the second quarter worth about $2,875,000. Citadel Advisors LLC increased its stake in shares of Insight Enterprises by 22.1% during the second quarter. Citadel Advisors LLC now owns 99,587 shares of the software maker’s stock worth $4,872,000 after purchasing an additional 17,999 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in shares of Insight Enterprises during the second quarter worth about $2,105,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Insight Enterprises by 8.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 480,110 shares of the software maker’s stock worth $23,492,000 after purchasing an additional 38,404 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

In related news, insider Steven W. Dodenhoff sold 4,827 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $56.57, for a total transaction of $273,063.39. Following the completion of the sale, the insider now owns 29,216 shares of the company’s stock, valued at approximately $1,652,749.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel C. Cowley sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $53.06, for a total transaction of $318,360.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,827 shares of company stock valued at $859,173. 1.77% of the stock is owned by corporate insiders.

NSIT has been the subject of a number of research reports. BidaskClub cut shares of Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, July 25th. Finally, B. Riley boosted their target price on shares of Insight Enterprises from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd.

Shares of NASDAQ NSIT opened at $49.09 on Friday. Insight Enterprises, Inc. has a 12-month low of $32.10 and a 12-month high of $56.86. The stock has a market cap of $1.92 billion, a P/E ratio of 15.15 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.28.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, August 1st. The software maker reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Insight Enterprises’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Insight Enterprises, Inc. will post 4.54 earnings per share for the current year.

Insight Enterprises Company Profile

Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.

Read More: The Discount Rate – What You Need to Know

Want to see what other hedge funds are holding NSIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insight Enterprises, Inc. (NASDAQ:NSIT).

Institutional Ownership by Quarter for Insight Enterprises (NASDAQ:NSIT)

Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply