BNP Paribas Arbitrage SA cut its stake in Insight Enterprises Inc. (NASDAQ:NSIT) by 47.4% during the third quarter, Holdings Channel reports. The institutional investor owned 6,559 shares of the company’s stock after selling 5,919 shares during the period. BNP Paribas Arbitrage SA’s holdings in Insight Enterprises were worth $213,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NSIT. Envestnet Asset Management Inc. increased its position in Insight Enterprises by 27.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,640 shares of the company’s stock valued at $104,000 after buying an additional 792 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in Insight Enterprises during the first quarter valued at $132,000. Teacher Retirement System of Texas increased its position in Insight Enterprises by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,196 shares of the company’s stock valued at $135,000 after buying an additional 627 shares during the last quarter. Mason Street Advisors LLC acquired a new position in Insight Enterprises during the second quarter valued at $187,000. Finally, Eqis Capital Management Inc. acquired a new position in Insight Enterprises during the third quarter valued at $206,000. 98.61% of the stock is owned by institutional investors.
Insight Enterprises Inc. (NASDAQ:NSIT) traded up 0.91% on Wednesday, reaching $32.33. The company’s stock had a trading volume of 29,625 shares. Insight Enterprises Inc. has a 12-month low of $18.26 and a 12-month high of $32.77. The firm has a 50-day moving average of $31.08 and a 200 day moving average of $28.12. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.82 and a beta of 1.77.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.22. Insight Enterprises had a return on equity of 12.71% and a net margin of 1.52%. The firm earned $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Insight Enterprises Inc. will post $2.43 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday.
In related news, insider Wolfgang Ebermann sold 15,000 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $474,600.00. Following the completion of the transaction, the insider now directly owns 14,711 shares in the company, valued at $465,456.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Guggemos sold 7,360 shares of Insight Enterprises stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $31.52, for a total value of $231,987.20. Following the transaction, the insider now owns 15,116 shares of the company’s stock, valued at $476,456.32. The disclosure for this sale can be found here. Corporate insiders own 1.23% of the company’s stock.
About Insight Enterprises
Insight Enterprises, Inc is a provider of hardware, software, Cloud and service solutions to business, government, healthcare and educational clients. The Company consults, designs, implements and manages integrated information technology (IT) solutions for its clients. These solutions include services and products designed to support networking, collaboration, storage, security, Cloud, mobility, converged infrastructure and other advanced technologies.