Insight Enterprises, Inc. (NSIT) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. raised its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 58.1% in the 4th quarter, Holdings Channel reports. The firm owned 31,300 shares of the software maker’s stock after purchasing an additional 11,500 shares during the quarter. Bessemer Group Inc.’s holdings in Insight Enterprises were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in NSIT. Russell Investments Group Ltd. lifted its position in Insight Enterprises by 131.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 74,320 shares of the software maker’s stock valued at $4,023,000 after acquiring an additional 42,154 shares in the last quarter. Wells Fargo & Company MN lifted its position in Insight Enterprises by 9.6% in the 3rd quarter. Wells Fargo & Company MN now owns 140,629 shares of the software maker’s stock valued at $7,606,000 after acquiring an additional 12,323 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Insight Enterprises in the 3rd quarter valued at approximately $828,000. Stone Ridge Asset Management LLC lifted its position in Insight Enterprises by 56.3% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 14,469 shares of the software maker’s stock valued at $783,000 after acquiring an additional 5,213 shares in the last quarter. Finally, LSV Asset Management lifted its position in Insight Enterprises by 9.4% in the 3rd quarter. LSV Asset Management now owns 698,967 shares of the software maker’s stock valued at $37,807,000 after acquiring an additional 59,767 shares in the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.
Several research firms have recently weighed in on NSIT. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday, February 19th. BidaskClub raised Insight Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, December 22nd. Finally, ValuEngine raised Insight Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, February 14th. The software maker reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.20. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Insight Enterprises had a return on equity of 17.90% and a net margin of 2.30%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. As a group, analysts forecast that Insight Enterprises, Inc. will post 4.79 EPS for the current fiscal year.
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Insight Enterprises Company Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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