Insight Enterprises, Inc. (NSIT) Lowered to Hold at Zacks Investment Research
Insight Enterprises, Inc. (NASDAQ:NSIT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research 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. “
A number of other research analysts have also recently weighed in on NSIT. B. Riley reiterated a “neutral” rating and issued a $48.00 target price on shares of Insight Enterprises in a report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target (up from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Finally, BidaskClub lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Insight Enterprises currently has an average rating of “Hold” and a consensus target price of $50.50.
Insight Enterprises (NSIT) opened at 46.40 on Wednesday. Insight Enterprises has a 1-year low of $28.15 and a 1-year high of $53.19. The stock has a 50 day moving average of $41.07 and a 200 day moving average of $41.74. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 17.24 and a beta of 1.67.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The business had revenue of $1.68 billion during 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%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Equities analysts expect that Insight Enterprises will post $3.23 earnings per share for the current year.
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In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through this link. 1.38% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Insight Enterprises by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the software maker’s stock valued at $584,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System increased its holdings in Insight Enterprises by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 18,620 shares of the software maker’s stock valued at $745,000 after purchasing an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Insight Enterprises by 0.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 21,310 shares of the software maker’s stock valued at $875,000 after purchasing an additional 140 shares in the last quarter. Rothschild Asset Management Inc. increased its holdings in Insight Enterprises by 0.3% in the 2nd quarter. Rothschild Asset Management Inc. now owns 93,009 shares of the software maker’s stock valued at $3,719,000 after purchasing an additional 272 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its holdings in Insight Enterprises by 2.8% in the 2nd quarter. First Midwest Bank Trust Division now owns 12,995 shares of the software maker’s stock valued at $520,000 after purchasing an additional 350 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
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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