Insight Enterprises (NASDAQ:NSIT) Downgraded by StockNews.com to “Hold”

Insight Enterprises (NASDAQ:NSIT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other brokerages have also commented on NSIT. JPMorgan Chase & Co. increased 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. Stifel Nicolaus increased their price objective on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Barrington Research increased their price objective on Insight Enterprises from $211.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, May 9th.

Insight Enterprises Stock Down 0.4 %

Insight Enterprises stock opened at $199.64 on Friday. The business has a fifty day moving average of $199.27 and a two-hundred day moving average of $189.16. 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 firm has a market cap of $6.50 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.55 and a beta of 1.49. Insight Enterprises has a twelve month low of $131.59 and a twelve month high of $212.44.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.55. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. Insight Enterprises’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. On average, analysts forecast that Insight Enterprises will post 10.78 earnings per share for the current fiscal year.

Insider Activity at Insight Enterprises

In related news, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the transaction, the chief executive officer now directly owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Adrian P. Gregory sold 2,750 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $195.83, for a total value of $538,532.50. Following the transaction, the insider now directly owns 3,447 shares of the company’s stock, valued at approximately $675,026.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $201.08, for a total value of $2,010,800.00. Following the completion of the transaction, the chief executive officer now directly owns 40,807 shares in the company, valued at $8,205,471.56. The disclosure for this sale can be found here. Insiders have sold a total of 462,750 shares of company stock valued at $89,169,833 in the last ninety days. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Insight Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Insight Enterprises by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock worth $598,220,000 after purchasing an additional 245,814 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Insight Enterprises by 3.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock worth $112,577,000 after purchasing an additional 23,085 shares during the period. Prudential PLC acquired a new stake in Insight Enterprises during the 4th quarter worth about $1,394,000. Norges Bank acquired a new stake in Insight Enterprises during the 4th quarter worth about $58,687,000. Finally, Pacer Advisors Inc. grew its position in Insight Enterprises by 53.1% during the 4th quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock worth $126,194,000 after purchasing an additional 247,049 shares during the period.

Insight Enterprises Company Profile

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.