Insight Enterprises Inc. (NASDAQ:NSIT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Insight is a global direct marketer of brand name computers, hardware and software. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “
Insight Enterprises (NASDAQ:NSIT) traded down 0.98% during mid-day trading on Wednesday, hitting $32.33. The company’s stock had a trading volume of 107,211 shares. The company has a market cap of $1.15 billion, a P/E ratio of 14.82 and a beta of 1.77. The firm’s 50-day moving average is $31.20 and its 200-day moving average is $28.21. Insight Enterprises has a 12-month low of $18.26 and a 12-month high of $32.77.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, August 3rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.22. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Insight Enterprises had a return on equity of 12.71% and a net margin of 1.52%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Analysts predict that Insight Enterprises will post $2.43 EPS for the current fiscal year.
In related news, insider Michael Guggemos sold 7,360 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $31.52, for a total value of $231,987.20. Following the transaction, the insider now owns 15,116 shares of the company’s stock, valued at $476,456.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wolfgang Ebermann sold 15,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $31.64, for a total value of $474,600.00. Following the completion of the transaction, the insider now directly owns 14,711 shares in the company, valued at approximately $465,456.04. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its position in shares of Insight Enterprises by 10.5% in the first quarter. Panagora Asset Management Inc. now owns 512,557 shares of the company’s stock valued at $14,680,000 after buying an additional 48,590 shares during the period. Aristotle Capital Boston LLC boosted its position in shares of Insight Enterprises by 1.9% in the first quarter. Aristotle Capital Boston LLC now owns 108,413 shares of the company’s stock valued at $3,105,000 after buying an additional 2,029 shares during the period. HBK Investments L P purchased a new position in shares of Insight Enterprises during the first quarter valued at about $258,000. AXA boosted its position in shares of Insight Enterprises by 6.6% in the first quarter. AXA now owns 43,650 shares of the company’s stock valued at $1,250,000 after buying an additional 2,700 shares during the period. Finally, State Street Corp boosted its position in shares of Insight Enterprises by 6.5% in the first quarter. State Street Corp now owns 884,273 shares of the company’s stock valued at $25,329,000 after buying an additional 53,726 shares during the period. 98.61% of the stock is currently owned by institutional investors.
Insight Enterprises Company Profile
Insight Enterprises, Inc is a provider of hardware, software, Cloud and service solutions to business, government, healthcare and educational clients. The Company consults, designs, implements and manages integrated information technology (IT) solutions for its clients. These solutions include services and products designed to support networking, collaboration, storage, security, Cloud, mobility, converged infrastructure and other advanced technologies.