Insight Enterprises (NASDAQ:NSIT) Downgraded by StockNews.com

Insight Enterprises (NASDAQ:NSIT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

NSIT has been the topic of several other research reports. Barrington Research raised their price objective on Insight Enterprises from $211.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus lifted their price target on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th.

Insight Enterprises Trading Up 2.1 %

Insight Enterprises stock traded up $4.12 during mid-day trading on Monday, hitting $201.46. 148,480 shares of the company’s stock were exchanged, compared to its average volume of 225,986. The firm has a market capitalization of $6.56 billion, a P/E ratio of 25.34, a PEG ratio of 1.53 and a beta of 1.50. Insight Enterprises has a fifty-two week low of $131.59 and a fifty-two week high of $212.44. 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 company’s 50 day simple moving average is $194.72 and its 200-day simple moving average is $186.86.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data 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 business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. On average, equities analysts anticipate that Insight Enterprises will post 10.78 earnings per share for the current year.

Insider Activity

In other news, CEO Joyce A. Mullen sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 40,807 shares in the company, valued at approximately $8,205,471.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Adrian P. Gregory sold 2,750 shares of Insight Enterprises stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $195.83, for a total transaction of $538,532.50. Following the completion of the transaction, the insider now owns 3,447 shares in the company, valued at $675,026.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joyce A. Mullen sold 10,000 shares of Insight Enterprises stock in a transaction dated 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 owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The disclosure for this sale can be found here. Insiders sold 462,750 shares of company stock worth $89,169,833 in the last quarter. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of NSIT. Capital World Investors grew its holdings in Insight Enterprises by 27.8% during the first quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock worth $398,700,000 after purchasing an additional 467,088 shares during the period. Norges Bank bought a new stake in shares of Insight Enterprises during the fourth quarter worth approximately $58,687,000. Capital Research Global Investors boosted its holdings in shares of Insight Enterprises by 54.9% during the first quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock worth $168,398,000 after acquiring an additional 321,780 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Insight Enterprises during the fourth quarter worth approximately $56,128,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Insight Enterprises by 53.1% during the fourth quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock worth $126,194,000 after acquiring 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.