ValueAct Capital Management LP has recently announced that it has increased stake in Insight Enterprises Inc. (NASDAQ:NSIT) by 7.87%. After grabbing 4.42 million shares, the institutional investor is now in possession of 0.32 million shares of the Technology Company. The new investment brought the stake of investor firm to 12.70% having worth around $443.39 million. Moreover, Fidelity Management & Research Co increased its share by 0.22 million to have a control over 4.41 million shares. And Dimensional Fund Advisors LP raised its holdings to 14778.0 shares by acquiring 2.15 million shares or 6.18% of the stake.
Insight Enterprises Inc. (NSIT) concluded trading on 01/19/23 at a closing price of $109.59, with 0.23 million shares of worth about $25.06 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 22.01% during that period and on Thursday the price saw a loss of about -1.31%. Currently the company’s common shares owned by public are about 34.95M shares, out of which, 34.27M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 160 times over the past 12 months. They bought 1,181,068 shares in 109 of the transactions. In 51 selling transactions, insiders dumped 40,555 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Fidelity Comwlth. Tr. – Small Cap are the top 3 mutual funds which are holding stakes in Insight Enterprises Inc. iShares Core S&P Small Cap ETF is currently holding 2.24 million shares of worth totaling $224.41 million. The company recently came selling 5408.0 shares which brought its stake up to 6.43% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 1327.0 shares, after which its hold over company’s outstanding shares expand to 3.01%, leaving 1.05 million shares with the mutual fund that have a worth of about $105.14 million. Fidelity Comwlth. Tr. – Small Cap, after buying 1.0 million shares, have now control over 2.87% of the stake in the company. It holds 0.0 shares of worth $100.27 million.
Insight Enterprises Inc. (NASDAQ: NSIT) started trading at $111.12, above $0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 111.64, or with a loss of -1.31%. Stock saw a price change of 0.23% in past 5 days and over the past one month there was a price change of 13.90%. Year-to-date (YTD), NSIT shares are showing a performance of 9.29% which increased to 10.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $81.11 but also hit the highest price of $112.07 during that period. The average intraday trading volume for Insight Enterprises Inc. shares is 250.44K. The stock is currently trading 6.33% above its 20-day simple moving average (SMA20), while that difference is up 8.11% for SMA50 and it goes to 15.71% higher than SMA200.
ValueAct Capital Management LP acquired 4.42 million shares of Insight Enterprises Inc. having value of about $443.39 million. Data submitted at the U.S SEC by ValueAct Capital Management LP revealed that the firm now holds 0.32 million shares in the company valued at close to $35367432.75, or have control over 7.87% stake in the company. Holding of mutual funds in the company is about 47.93% while other institutional holders and individual stake holders have control over 61.73% and 16.77% of the stake respectively.
The stock has a current market capitalization of $3.78B and its 3Y-monthly beta is at 1.61. PE ratio of stock for trailing 12 months is 15.19, while it has posted earnings per share of $7.22 in the same period. Its PEG reads 2.04 and has Quick Ratio of 1.50 while making debt-to-equity ratio of 0.48. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NSIT, volatility over the week remained 1.84% while standing at 1.98% over the month.
Analysts are in expectations that Insight Enterprises Inc. (NSIT) stock would likely to be making an EPS of $1.93 in the current quarter, while forecast for next quarter EPS is $2.16 and it is $9.29 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.87 which is $2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.87 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 22.20% while it is estimated to increase by 6.34% in next year. EPS is likely to shrink at an annualized rate of 7.44% for next 5-years, compared to annual growth of 20.70% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on July 14, 2022 offering a Neutral rating for the stock and assigned a target price of $98 to it. Coverage by JP Morgan stated Insight Enterprises Inc. (NSIT) stock as a Neutral in their note to investors on June 16, 2021, suggesting a price target of $106 for the stock. On September 24, 2020, Barrington Research Initiated their recommendations, while on July 17, 2020, Stifel Upgrade their ratings for the stock with a price target of $60. Stock get a Buy rating from B. Riley FBR on November 08, 2018.
