Insight Enterprises (NASDAQ:NSIT) Trading Down 10.7%

Insight Enterprises, Inc. (NASDAQ:NSIT) dropped 10.7% on Thursday . The company traded as low as $200.35 and last traded at $200.38. Approximately 185,301 shares traded hands during trading, a decline of 15% from the average daily volume of 217,754 shares. The stock had previously closed at $224.50.

Analysts Set New Price Targets

NSIT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. 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 lifted their target price on Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insight Enterprises Price Performance

The business has a 50-day simple moving average of $204.76 and a two-hundred day simple moving average of $193.75. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.73 and a beta of 1.49.

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

Insider Buying and Selling

In other Insight Enterprises news, Director Holdings L.P. Valueact sold 450,000 shares of the business’s stock in a transaction dated 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 approximately $781,844,140.11. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Joyce A. Mullen sold 10,000 shares of Insight Enterprises stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the transaction, the chief executive officer now owns 40,807 shares in the company, valued at $8,205,471.56. 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 company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value of $86,620,500.00. Following the transaction, the director now directly 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 three months. 1.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NSIT. Raymond James & Associates increased its position in Insight Enterprises by 4.4% in the 4th quarter. Raymond James & Associates now owns 5,846 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 244 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Insight Enterprises by 19.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,990 shares of the software maker’s stock worth $530,000 after acquiring an additional 480 shares in the last quarter. Blue Trust Inc. grew its position in Insight Enterprises by 13.2% in the fourth quarter. Blue Trust Inc. now owns 550 shares of the software maker’s stock worth $97,000 after acquiring an additional 64 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Insight Enterprises by 1,230.3% in the fourth quarter. Fifth Third Bancorp now owns 1,450 shares of the software maker’s stock worth $257,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Insight Enterprises by 11.2% during the fourth quarter. Arizona State Retirement System now owns 8,950 shares of the software maker’s stock valued at $1,586,000 after buying an additional 900 shares in the last quarter.

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.