Insight Enterprises (NASDAQ:NSIT) Stock Price Down 9.7% Following Weak Earnings

Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) traded down 9.7% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $184.01 and last traded at $184.02. 100,262 shares changed hands during trading, a decline of 55% from the average session volume of 222,340 shares. The stock had previously closed at $203.89.

The software maker reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. Insight Enterprises’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.37 earnings per share.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NSIT shares. Stifel Nicolaus boosted their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, Barrington Research reiterated an “outperform” rating and set a $225.00 price target on shares of Insight Enterprises in a research report on Friday, September 20th.

Insider Buying and Selling at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now directly owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.23% of the stock is owned by corporate insiders.

Institutional Trading of Insight Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of NSIT. Xponance Inc. grew its holdings in Insight Enterprises by 2.5% during the second quarter. Xponance Inc. now owns 2,114 shares of the software maker’s stock worth $419,000 after acquiring an additional 52 shares during the period. Tevis Investment Management grew its stake in shares of Insight Enterprises by 3.5% in the 2nd quarter. Tevis Investment Management now owns 1,774 shares of the software maker’s stock worth $352,000 after purchasing an additional 60 shares during the last quarter. One Wealth Advisors LLC raised its holdings in shares of Insight Enterprises by 4.7% in the 3rd quarter. One Wealth Advisors LLC now owns 1,379 shares of the software maker’s stock worth $297,000 after purchasing an additional 62 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in Insight Enterprises by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 3,854 shares of the software maker’s stock valued at $764,000 after purchasing an additional 69 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Insight Enterprises by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 5,020 shares of the software maker’s stock worth $996,000 after buying an additional 77 shares in the last quarter.

Insight Enterprises Stock Performance

The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. The company’s 50-day simple moving average is $212.35 and its 200-day simple moving average is $203.91. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36.

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.