GAMMA Investing LLC Has $259.84 Million Stock Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

GAMMA Investing LLC grew its position in Insight Enterprises, Inc. (NASDAQ:NSIT) by 42,674.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,238 shares of the software maker’s stock after acquiring an additional 172,833 shares during the quarter. GAMMA Investing LLC owned 0.55% of Insight Enterprises worth $259,840,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Insight Enterprises during the 4th quarter worth approximately $32,000. R Squared Ltd acquired a new stake in shares of Insight Enterprises in the 4th quarter valued at $33,000. J.Safra Asset Management Corp grew its stake in shares of Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker’s stock worth $37,000 after purchasing an additional 71 shares during the period. NewEdge Advisors LLC grew its stake in shares of Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker’s stock worth $39,000 after purchasing an additional 63 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Insight Enterprises by 287.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker’s stock worth $76,000 after purchasing an additional 374 shares during the period.

Insight Enterprises Stock Performance

NSIT opened at $129.59 on Friday. The business’s 50-day simple moving average is $136.47 and its 200 day simple moving average is $151.51. The firm has a market capitalization of $4.14 billion, a PE ratio of 19.88, a PEG ratio of 1.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.15 and a current ratio of 1.18. Insight Enterprises, Inc. has a 52-week low of $126.10 and a 52-week high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $2.37 earnings per share. The business’s revenue was down 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and set a $164.00 price objective on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their price target on Insight Enterprises from $193.00 to $156.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insight Enterprises presently has an average rating of “Hold” and a consensus 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.