Bridgewater Associates LP Sells 38,858 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Bridgewater Associates LP lowered its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 52.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,294 shares of the software maker’s stock after selling 38,858 shares during the period. Bridgewater Associates LP owned approximately 0.11% of Insight Enterprises worth $7,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in shares of Insight Enterprises during the 2nd quarter worth approximately $38,000. GAMMA Investing LLC grew its holdings in shares of Insight Enterprises by 56.9% in the second quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after purchasing an additional 164 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Insight Enterprises by 40.8% in the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after purchasing an additional 154 shares during the last quarter. Ausbil Investment Management Ltd purchased a new position in Insight Enterprises in the 2nd quarter worth about $195,000. Finally, Huntington National Bank lifted its holdings in Insight Enterprises by 7.3% during the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after buying an additional 68 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSIT. Barrington Research reduced their target price on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Redburn Atlantic started coverage on Insight Enterprises in a report on Friday, November 15th. They issued a “buy” rating and a $220.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $212.50.

Insight Enterprises Price Performance

NASDAQ NSIT opened at $156.28 on Friday. The company has a market cap of $4.96 billion, a PE ratio of 19.66, a P/E/G ratio of 1.36 and a beta of 1.48. The firm’s 50 day moving average price is $193.31 and its 200-day moving average price is $200.16. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24. Insight Enterprises, Inc. has a 52-week low of $146.56 and a 52-week high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18). The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a net margin of 3.42% and a return on equity of 19.71%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $2.37 EPS. Sell-side analysts forecast that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Insight Enterprises 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.