Insight Enterprises (NASDAQ:NSIT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Insight Enterprises (NASDAQ:NSIT) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

Separately, Barrington Research increased their price objective on shares of Insight Enterprises from $116.00 to $122.00 and gave the stock an outperform rating in a report on Thursday, November 11th.

NASDAQ:NSIT opened at $102.77 on Wednesday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.77. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $103.45 and its two-hundred day moving average is $98.84. Insight Enterprises has a 12-month low of $75.38 and a 12-month high of $111.02.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, November 4th. The software maker reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.19. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.16 billion. Insight Enterprises had a net margin of 2.30% and a return on equity of 17.39%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. On average, equities research analysts forecast that Insight Enterprises will post 7.05 earnings per share for the current fiscal year.

In other Insight Enterprises news, CEO Kenneth T. Lamneck sold 2,000 shares of the firm’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $103.59, for a total value of $207,180.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kenneth T. Lamneck sold 3,000 shares of the firm’s stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $107.44, for a total value of $322,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,500 shares of company stock valued at $6,023,475. 2.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in Insight Enterprises by 10,533.3% during the second quarter. Meeder Asset Management Inc. now owns 319 shares of the software maker’s stock worth $32,000 after acquiring an additional 316 shares during the period. US Bancorp DE increased its stake in Insight Enterprises by 112.5% in the 3rd quarter. US Bancorp DE now owns 442 shares of the software maker’s stock worth $40,000 after purchasing an additional 234 shares in the last quarter. Huntington National Bank grew its stake in Insight Enterprises by 58,200.0% during the 3rd quarter. Huntington National Bank now owns 583 shares of the software maker’s stock valued at $53,000 after acquiring an additional 582 shares in the last quarter. Raymond James & Associates grew its stake in Insight Enterprises by 14.8% during the 3rd quarter. Raymond James & Associates now owns 2,396 shares of the software maker’s stock valued at $216,000 after acquiring an additional 308 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Insight Enterprises during the 3rd quarter valued at about $240,000.

Insight Enterprises Company Profile

Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America; Europe, the Middle East and Africa; and Asia-Pacific.

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