Zacks Investment Research Downgrades Insight Enterprises, Inc. (NSIT) to Hold
Insight Enterprises, Inc. (NASDAQ:NSIT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors 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. “
Separately, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Insight Enterprises in a research note on Thursday, January 12th.
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Shares of Insight Enterprises (NASDAQ:NSIT) traded up 0.57% during mid-day trading on Wednesday, reaching $43.73. The company’s stock had a trading volume of 399,362 shares. The firm has a market cap of $1.55 billion, a PE ratio of 18.85 and a beta of 1.91. Insight Enterprises has a 12 month low of $23.31 and a 12 month high of $46.00. The company has a 50-day moving average of $42.00 and a 200-day moving average of $36.27.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Insight Enterprises had a return on equity of 13.13% and a net margin of 1.54%. Insight Enterprises’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts predict that Insight Enterprises will post $2.85 earnings per share for the current year.
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In related news, CEO Kenneth T. Lamneck sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $45.54, for a total value of $683,100.00. Following the sale, the chief executive officer now directly owns 140,543 shares of the company’s stock, valued at $6,400,328.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Helen Johnson sold 8,751 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $45.23, for a total value of $395,807.73. The disclosure for this sale can be found here. Insiders sold 44,769 shares of company stock worth $2,004,931 over the last ninety days. 1.23% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in shares of Insight Enterprises by 6.0% in the third quarter. BlackRock Fund Advisors now owns 2,528,265 shares of the company’s stock worth $82,295,000 after buying an additional 142,528 shares during the last quarter. Northern Trust Corp raised its stake in shares of Insight Enterprises by 0.4% in the third quarter. Northern Trust Corp now owns 1,492,118 shares of the company’s stock worth $48,569,000 after buying an additional 5,385 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Insight Enterprises by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 1,461,546 shares of the company’s stock worth $47,574,000 after buying an additional 22,374 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Insight Enterprises by 32.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,234,545 shares of the company’s stock worth $40,184,000 after buying an additional 301,247 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Insight Enterprises by 8.3% in the fourth quarter. State Street Corp now owns 962,152 shares of the company’s stock worth $38,906,000 after buying an additional 73,705 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.
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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