Insight Enterprises, Inc. (NSIT) Rating Lowered to Hold at ValuEngine
Insight Enterprises, Inc. (NASDAQ:NSIT) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other equities research analysts also recently issued research reports about the company. B. Riley upgraded Insight Enterprises from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $54.50 in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Saturday, August 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Finally, BidaskClub downgraded Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $51.00.
Insight Enterprises (NASDAQ NSIT) opened at $36.92 on Wednesday. Insight Enterprises has a twelve month low of $32.39 and a twelve month high of $53.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.84 and a quick ratio of 1.59. The company has a market capitalization of $1,384.09, a price-to-earnings ratio of 12.28 and a beta of 1.63.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. Insight Enterprises had a return on equity of 14.90% and a net margin of 1.53%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. research analysts anticipate that Insight Enterprises will post 3.22 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its position in Insight Enterprises by 117.4% during the first quarter. UBS Asset Management Americas Inc. now owns 17,604 shares of the software maker’s stock valued at $723,000 after purchasing an additional 9,505 shares in the last quarter. Teachers Advisors LLC raised its position in Insight Enterprises by 25.9% during the first quarter. Teachers Advisors LLC now owns 122,266 shares of the software maker’s stock valued at $5,024,000 after purchasing an additional 25,178 shares in the last quarter. Vanguard Group Inc. raised its position in Insight Enterprises by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after purchasing an additional 144,077 shares in the last quarter. Morgan Stanley raised its position in Insight Enterprises by 67.3% during the first quarter. Morgan Stanley now owns 191,524 shares of the software maker’s stock valued at $7,869,000 after purchasing an additional 77,026 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Insight Enterprises during the first quarter valued at about $1,930,000. Institutional investors own 96.59% 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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