Insight Enterprises, Inc. (NSIT) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research downgraded shares of Insight Enterprises, Inc. (NASDAQ:NSIT) from a strong-buy rating to a hold rating in a report issued on Wednesday.
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. “
NSIT has been the topic of a number of other research reports. BidaskClub downgraded Insight Enterprises from a sell rating to a strong sell rating in a research report on Tuesday, August 22nd. B. Riley reiterated a neutral rating and set a $48.00 price target on shares of Insight Enterprises in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a hold rating and set a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $50.50.
Insight Enterprises (NASDAQ NSIT) opened at 45.15 on Wednesday. The company has a 50-day moving average price of $41.48 and a 200-day moving average price of $41.80. The stock has a market capitalization of $1.62 billion, a PE ratio of 16.77 and a beta of 1.67. Insight Enterprises has a 12-month low of $28.15 and a 12-month high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. Insight Enterprises’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. Analysts expect that Insight Enterprises will post $3.23 earnings per share for the current fiscal year.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $41.90, for a total transaction of $209,500.00. Following the transaction, the chief financial officer now owns 30,797 shares in the company, valued at $1,290,394.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.38% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Gotham Asset Management LLC purchased a new position in Insight Enterprises during the first quarter worth approximately $1,562,000. Prudential Financial Inc. lifted its position in shares of Insight Enterprises by 4.7% in the second quarter. Prudential Financial Inc. now owns 319,499 shares of the software maker’s stock valued at $12,777,000 after acquiring an additional 14,377 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Insight Enterprises by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after acquiring an additional 144,077 shares in the last quarter. LSV Asset Management lifted its position in shares of Insight Enterprises by 2.8% in the second quarter. LSV Asset Management now owns 1,222,100 shares of the software maker’s stock valued at $48,871,000 after acquiring an additional 33,823 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Insight Enterprises by 40.5% in the second quarter. KBC Group NV now owns 34,263 shares of the software maker’s stock valued at $1,370,000 after acquiring an additional 9,876 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.
Insight Enterprises Company Profile
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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