Tidal Investments LLC Sells 237 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Tidal Investments LLC reduced its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,914 shares of the software maker’s stock after selling 237 shares during the period. Tidal Investments LLC’s holdings in Insight Enterprises were worth $1,058,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on NSIT. Barrington Research cut their price target 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. Redburn Atlantic assumed coverage on Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 target price on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $212.50.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT opened at $157.57 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $175.56 and its 200-day moving average price is $195.12. The firm has a market capitalization of $5.00 billion, a P/E ratio of 19.82, 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.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly 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 firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.37 EPS. Equities research analysts anticipate that Insight Enterprises, Inc. will post 9.55 earnings per share for the current fiscal year.

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.