Lazard Asset Management LLC Increases Stock Holdings in Insight Enterprises, Inc. (NASDAQ:NSIT)

Lazard Asset Management LLC increased its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT) by 128.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,463 shares of the software maker’s stock after acquiring an additional 7,018 shares during the period. Lazard Asset Management LLC’s holdings in Insight Enterprises were worth $1,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NSIT. Massachusetts Financial Services Co. MA purchased a new stake in Insight Enterprises in the fourth quarter worth $57,380,000. Norges Bank purchased a new stake in Insight Enterprises in the fourth quarter worth $47,585,000. Pacer Advisors Inc. lifted its stake in Insight Enterprises by 26.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock worth $163,243,000 after acquiring an additional 225,283 shares during the period. Wellington Management Group LLP lifted its stake in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock worth $41,188,000 after acquiring an additional 107,397 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Insight Enterprises in the fourth quarter worth $15,220,000.

Insight Enterprises Stock Performance

Shares of Insight Enterprises stock opened at $137.08 on Friday. Insight Enterprises, Inc. has a 12 month low of $126.10 and a 12 month high of $228.07. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $140.69 and a two-hundred day simple moving average of $153.94. The firm has a market capitalization of $4.38 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.40 and a beta of 1.22.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.03. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $2.37 earnings per share. The company’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts forecast that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NSIT. Barrington Research lowered their price objective on Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.00.

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.