Insight Enterprises (NASDAQ:NSIT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.
According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. 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. “
Several other brokerages have also recently issued reports on NSIT. B. Riley reduced their target price on Insight Enterprises from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday. ValuEngine cut Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub raised Insight Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 8th.
NASDAQ:NSIT opened at $46.54 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.28 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 14.36 and a beta of 1.19. Insight Enterprises has a 52 week low of $32.10 and a 52 week high of $56.86.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.84 billion. Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. Insight Enterprises’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, analysts predict that Insight Enterprises will post 4.43 earnings per share for the current fiscal year.
In related news, insider Samuel C. Cowley sold 6,000 shares of Insight Enterprises stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $53.06, for a total value of $318,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Ibarguen sold 5,000 shares of Insight Enterprises stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total value of $267,750.00. The disclosure for this sale can be found here. Insiders sold 15,827 shares of company stock worth $859,173 over the last ninety days. Insiders own 1.77% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Insight Enterprises by 4.1% in the third quarter. BlackRock Inc. now owns 5,152,517 shares of the software maker’s stock worth $278,699,000 after acquiring an additional 201,482 shares in the last quarter. Northern Trust Corp grew its position in Insight Enterprises by 2.3% in the second quarter. Northern Trust Corp now owns 1,581,099 shares of the software maker’s stock worth $77,362,000 after acquiring an additional 35,657 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Insight Enterprises by 7.7% in the third quarter. Frontier Capital Management Co. LLC now owns 973,870 shares of the software maker’s stock worth $52,677,000 after acquiring an additional 69,222 shares in the last quarter. Boston Partners grew its position in Insight Enterprises by 3.3% in the second quarter. Boston Partners now owns 966,531 shares of the software maker’s stock worth $47,292,000 after acquiring an additional 30,598 shares in the last quarter. Finally, LSV Asset Management grew its position in Insight Enterprises by 9.4% in the third quarter. LSV Asset Management now owns 698,967 shares of the software maker’s stock worth $37,807,000 after acquiring an additional 59,767 shares in the last quarter. Institutional investors own 95.83% of the company’s stock.
Insight Enterprises Company Profile
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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