Insight Enterprises (NASDAQ:NSIT) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Insight Enterprises (NASDAQ:NSIT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other research firms have also weighed in on NSIT. Barrington Research upped their price objective on Insight Enterprises from $211.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Stifel Nicolaus increased their price objective on Insight Enterprises from $170.00 to $192.00 and gave the stock a hold rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Insight Enterprises from $193.00 to $195.00 and gave the company a neutral rating in a report on Friday, May 3rd.

Insight Enterprises Stock Up 0.8 %

NSIT opened at $198.28 on Friday. The business has a 50 day moving average of $199.84 and a 200-day moving average of $189.50. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 1.52 and a beta of 1.49. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31. Insight Enterprises has a 1-year low of $131.59 and a 1-year high of $212.44.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.55. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Insight Enterprises will post 10.78 earnings per share for the current year.

Insider Activity at Insight Enterprises

In other news, insider Adrian P. Gregory sold 2,750 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $195.83, for a total value of $538,532.50. Following the completion of the transaction, the insider now owns 3,447 shares of the company’s stock, valued at approximately $675,026.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Insight Enterprises news, insider Adrian P. Gregory sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $195.83, for a total transaction of $538,532.50. Following the sale, the insider now directly owns 3,447 shares in the company, valued at approximately $675,026.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Holdings L.P. Valueact sold 450,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $192.49, for a total transaction of $86,620,500.00. Following the sale, the director now owns 4,061,739 shares in the company, valued at $781,844,140.11. The disclosure for this sale can be found here. Insiders have sold 462,750 shares of company stock worth $89,169,833 in the last ninety days. Company insiders own 1.23% of the company’s stock.

Institutional Trading of Insight Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its position in shares of Insight Enterprises by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,892 shares of the software maker’s stock valued at $867,000 after acquiring an additional 60 shares during the period. Blue Trust Inc. lifted its stake in Insight Enterprises by 13.2% in the 4th quarter. Blue Trust Inc. now owns 550 shares of the software maker’s stock valued at $97,000 after purchasing an additional 64 shares during the last quarter. GAMMA Investing LLC grew its holdings in Insight Enterprises by 32.7% during the first quarter. GAMMA Investing LLC now owns 288 shares of the software maker’s stock worth $53,000 after purchasing an additional 71 shares during the period. Exchange Traded Concepts LLC increased its position in Insight Enterprises by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,598 shares of the software maker’s stock worth $1,701,000 after buying an additional 77 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Insight Enterprises by 26.9% in the fourth quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock valued at $69,000 after buying an additional 83 shares during the period.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.