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

StockNews.com downgraded shares of Insight Enterprises (NASDAQ:NSITGet Rating) from a buy rating to a hold rating in a report released on Wednesday morning.

Separately, Zacks Investment Research raised shares of Insight Enterprises from a hold rating to a buy rating and set a $114.00 price objective for the company in a research note on Tuesday.

Shares of NASDAQ NSIT opened at $96.48 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 1.41. The company has a market cap of $3.38 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 1.64. The firm’s fifty day moving average is $103.24 and its two-hundred day moving average is $101.55. Insight Enterprises has a 52-week low of $88.28 and a 52-week high of $111.02.

Insight Enterprises (NASDAQ:NSITGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.41 billion. Insight Enterprises had a net margin of 2.35% and a return on equity of 18.24%. Insight Enterprises’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. As a group, analysts forecast that Insight Enterprises will post 8.07 EPS for the current fiscal year.

In related news, insider Samuel C. Cowley sold 5,343 shares of Insight Enterprises stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $100.68, for a total transaction of $537,933.24. Following the completion of the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately $2,517,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $103.75, for a total transaction of $518,750.00. The disclosure for this sale can be found here. Insiders acquired a total of 180,052 shares of company stock valued at $18,089,339 over the last three months. Corporate insiders own 1.61% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Cassady Schiller Wealth Management LLC bought a new stake in Insight Enterprises during the 4th quarter valued at about $53,000. Crossmark Global Holdings Inc. lifted its holdings in Insight Enterprises by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,220 shares of the software maker’s stock valued at $556,000 after buying an additional 1,240 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Insight Enterprises by 6.1% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 51,122 shares of the software maker’s stock valued at $4,605,000 after buying an additional 2,921 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Insight Enterprises by 99.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 14,061 shares of the software maker’s stock valued at $1,267,000 after buying an additional 7,015 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Insight Enterprises during the 4th quarter valued at about $12,362,000.

About Insight Enterprises (Get Rating)

IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.

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