Massachusetts Financial Services Co. MA Invests $57.38 Million in Insight Enterprises, Inc. (NASDAQ:NSIT)

Massachusetts Financial Services Co. MA acquired a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 377,252 shares of the software maker’s stock, valued at approximately $57,380,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NSIT. Pacer Advisors Inc. increased its stake in shares of Insight Enterprises by 26.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock valued at $163,243,000 after purchasing an additional 225,283 shares during the period. Geode Capital Management LLC increased its position in 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 acquiring an additional 10,711 shares during the period. Norges Bank bought a new stake in Insight Enterprises during the 4th quarter valued at $47,585,000. Wellington Management Group LLP boosted its position in Insight Enterprises by 65.7% during the 4th 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, Bank of New York Mellon Corp grew its stake in shares of Insight Enterprises by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 260,838 shares of the software maker’s stock worth $39,674,000 after purchasing an additional 21,876 shares in the last quarter.

Insight Enterprises Trading Down 3.6 %

NASDAQ NSIT opened at $132.04 on Friday. The company has a market capitalization of $4.20 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. Insight Enterprises, Inc. has a 1-year low of $128.01 and a 1-year 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 firm’s fifty day simple moving average is $159.06 and its 200-day simple moving average is $171.45.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. During the same quarter last year, the company earned $2.98 EPS. As a group, sell-side analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research lowered their target price on shares of Insight Enterprises from $205.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $202.25.

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.