Vident Investment Advisory LLC Sells 3,963 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Vident Investment Advisory LLC lowered its stake in Insight Enterprises, Inc. (NASDAQ:NSIT) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,727 shares of the software maker’s stock after selling 3,963 shares during the quarter. Vident Investment Advisory LLC owned about 0.08% of Insight Enterprises worth $1,463,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Insight Enterprises by 10.7% during the first quarter. State Street Corp now owns 1,213,624 shares of the software maker’s stock worth $51,130,000 after acquiring an additional 117,691 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Insight Enterprises by 358.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,207,020 shares of the software maker’s stock worth $50,851,000 after purchasing an additional 943,720 shares during the period. Invesco Ltd. increased its holdings in Insight Enterprises by 20.7% during the 1st quarter. Invesco Ltd. now owns 824,793 shares of the software maker’s stock worth $34,749,000 after purchasing an additional 141,638 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Insight Enterprises by 1.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 680,954 shares of the software maker’s stock valued at $33,503,000 after purchasing an additional 11,436 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Insight Enterprises by 19.0% in the first quarter. Paradigm Capital Management Inc. NY now owns 637,600 shares of the software maker’s stock valued at $26,862,000 after purchasing an additional 101,700 shares in the last quarter.

In related news, CFO Helen Johnson sold 6,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $49.54, for a total value of $297,240.00. Following the completion of the sale, the chief financial officer now directly owns 15,997 shares in the company, valued at approximately $792,491.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

A number of brokerages recently issued reports on NSIT. Sidoti initiated coverage on Insight Enterprises in a research report on Monday, July 6th. They issued a “buy” rating on the stock. Stifel Nicolaus upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a report on Friday, July 17th. Zacks Investment Research cut shares of Insight Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. B. Riley reiterated a “buy” rating and issued a $63.50 price target on shares of Insight Enterprises in a research note on Thursday, June 4th. Finally, BidaskClub cut shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.63.

NASDAQ NSIT opened at $49.84 on Friday. Insight Enterprises, Inc. has a 12 month low of $28.25 and a 12 month high of $73.22. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average of $48.23 and a 200-day moving average of $52.06. The company has a market cap of $1.75 billion, a PE ratio of 9.13 and a beta of 1.50.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.16. Insight Enterprises had a net margin of 1.88% and a return on equity of 17.44%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, sell-side analysts predict that Insight Enterprises, Inc. will post 4.52 EPS for the current fiscal year.

About Insight Enterprises

Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.

Further Reading: Derivative

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

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