Hennessy Advisors Inc. Takes $39.24 Million Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Hennessy Advisors Inc. acquired a new position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) in the fourth quarter, HoldingsChannel reports. The fund acquired 258,000 shares of the software maker’s stock, valued at approximately $39,242,000. Insight Enterprises accounts for 1.2% of Hennessy Advisors Inc.’s holdings, making the stock its 29th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new position in shares of Insight Enterprises in the 3rd quarter valued at $2,609,000. Coldstream Capital Management Inc. bought a new stake in Insight Enterprises in the 3rd quarter valued at approximately $203,000. Geode Capital Management LLC lifted its position in shares of Insight Enterprises by 1.7% in the third quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock worth $142,073,000 after purchasing an additional 10,711 shares in the last quarter. Barclays PLC increased its position in shares of Insight Enterprises by 178.3% in the third quarter. Barclays PLC now owns 56,402 shares of the software maker’s stock valued at $12,150,000 after acquiring an additional 36,132 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Insight Enterprises by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 163,400 shares of the software maker’s stock worth $35,195,000 after purchasing an additional 20,851 shares in the last quarter.

Insight Enterprises Stock Up 0.4 %

Shares of NSIT opened at $165.24 on Friday. The firm has a market cap of $5.25 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. 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. The firm’s 50-day simple moving average is $156.85 and its 200 day simple moving average is $189.06.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barrington Research lowered their price objective on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Redburn Atlantic assumed coverage on Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.