Zacks Investment Research downgraded shares of Insight Enterprises, Inc. (NASDAQ:NSIT) from a strong-buy rating to a hold rating in a research note released on Wednesday, October 4th.
According to Zacks, “Insight is a global direct marketer of brand name computers, hardware and software. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “
A number of other research firms have also weighed in on NSIT. B. Riley raised shares of Insight Enterprises to a buy rating and set a $54.50 price objective on the stock in a research report on Tuesday, August 8th. BidaskClub lowered shares of Insight Enterprises from a buy rating to a hold rating in a research report on Saturday, June 17th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $45.00 target price (up from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Insight Enterprises currently has a consensus rating of Hold and a consensus target price of $50.50.
Insight Enterprises (NSIT) traded up 0.09% on Wednesday, hitting $45.15. The stock had a trading volume of 8,697 shares. Insight Enterprises has a 52-week low of $28.15 and a 52-week high of $53.19. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 16.77 and a beta of 1.67. The company’s 50 day moving average price is $42.51 and its 200 day moving average price is $41.95.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts expect that Insight Enterprises will post $3.23 EPS for the current year.
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In other news, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction on Monday, August 14th. The shares were sold at an average price of $41.90, for a total transaction of $209,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,797 shares in the company, valued at $1,290,394.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.38% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after buying an additional 385 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Insight Enterprises in the first quarter valued at $123,000. Eqis Capital Management Inc. purchased a new position in Insight Enterprises in the third quarter valued at $211,000. Invictus RG purchased a new position in Insight Enterprises in the first quarter valued at $199,000. Finally, Bayesian Capital Management LP increased its holdings in Insight Enterprises by 21.6% in the second quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock valued at $257,000 after buying an additional 1,143 shares in the last quarter. 97.02% of the stock is owned by institutional investors.
About Insight Enterprises
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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