Insight Enterprises (NSIT) Stock Rating Lowered by BidaskClub

Insight Enterprises (NASDAQ:NSIT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other brokerages also recently issued reports on NSIT. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday, July 25th. ValuEngine downgraded shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, B. Riley raised their price target on shares of Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, August 2nd.

NSIT stock traded up $0.97 during trading on Thursday, hitting $46.54. 305,906 shares of the stock traded hands, compared to its average volume of 238,342. Insight Enterprises has a 1 year low of $32.10 and a 1 year high of $56.86. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.28 and a current ratio of 1.65.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.09). Insight Enterprises had a net margin of 1.83% and a return on equity of 16.60%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts predict that Insight Enterprises will post 4.42 earnings per share for the current fiscal year.

In other news, Director Anthony Ibarguen sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $53.55, for a total transaction of $267,750.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven W. Dodenhoff sold 4,827 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $56.57, for a total transaction of $273,063.39. Following the sale, the insider now directly owns 29,216 shares in the company, valued at approximately $1,652,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,827 shares of company stock worth $859,173. Insiders own 1.77% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NSIT. Xact Kapitalforvaltning AB bought a new position in Insight Enterprises in the 1st quarter worth approximately $287,000. Principal Financial Group Inc. raised its position in Insight Enterprises by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 282,784 shares of the software maker’s stock worth $9,878,000 after purchasing an additional 6,535 shares during the last quarter. Alpha Windward LLC bought a new position in Insight Enterprises in the 2nd quarter worth approximately $543,000. Amalgamated Bank bought a new position in Insight Enterprises in the 2nd quarter worth approximately $263,000. Finally, Nisa Investment Advisors LLC bought a new position in Insight Enterprises in the 2nd quarter worth approximately $294,000. 95.83% of the stock is currently owned by hedge funds and other institutional investors.

About Insight Enterprises

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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