Insight Enterprises, Inc. (NASDAQ:NSIT) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Saturday, August 5th. B. Riley upgraded shares of Insight Enterprises from a “neutral” rating to a “buy” rating and boosted their price target for the company from $48.00 to $54.50 in a report on Thursday, August 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Insight Enterprises from $36.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.50.
Shares of Insight Enterprises (NASDAQ:NSIT) traded down 1.09% during trading on Wednesday, hitting $41.57. 109,109 shares of the company’s stock were exchanged. Insight Enterprises has a one year low of $28.15 and a one year high of $53.19. The firm has a 50-day moving average price of $41.45 and a 200-day moving average price of $41.83. The stock has a market cap of $1.49 billion, a P/E ratio of 15.44 and a beta of 1.63.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, beating the consensus estimate of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts expect that Insight Enterprises will post $3.23 EPS for the current fiscal year.
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In related news, CFO Glynis Bryan sold 3,946 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $42.00, for a total transaction of $165,732.00. Following the completion of the transaction, the chief financial officer now owns 39,643 shares in the company, valued at approximately $1,665,006. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.23% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after buying an additional 385 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Insight Enterprises during the first quarter valued at approximately $123,000. State of Alaska Department of Revenue raised its position in Insight Enterprises by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,920 shares of the software maker’s stock valued at $161,000 after buying an additional 80 shares during the period. Invictus RG purchased a new position in Insight Enterprises during the first quarter valued at approximately $199,000. Finally, Stevens Capital Management LP purchased a new position in Insight Enterprises during the second quarter valued at approximately $273,000. Hedge funds and other institutional investors own 97.16% 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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