Zacks Investment Research Lowers Insight Enterprises (NASDAQ:NSIT) to Hold

Insight Enterprises (NASDAQ:NSITGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. 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. “

Separately, StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th.

Insight Enterprises stock opened at $94.76 on Thursday. The firm has a 50 day simple moving average of $101.93 and a 200-day simple moving average of $101.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 1.26. The stock has a market capitalization of $3.32 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. Insight Enterprises has a 12-month low of $88.28 and a 12-month high of $111.02.

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

In related news, CFO Glynis Bryan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $103.75, for a total value of $518,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samuel C. Cowley sold 5,343 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was 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 disclosure for this sale can be found here. Insiders purchased a total of 307,985 shares of company stock valued at $30,350,303 in the last ninety days. Company insiders own 1.61% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Insight Enterprises by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,897,063 shares of the software maker’s stock worth $418,233,000 after purchasing an additional 43,008 shares during the period. ValueAct Holdings L.P. lifted its position in Insight Enterprises by 16.9% in the 3rd quarter. ValueAct Holdings L.P. now owns 3,324,835 shares of the software maker’s stock worth $299,501,000 after buying an additional 481,145 shares in the last quarter. Boston Partners lifted its position in Insight Enterprises by 1.0% in the 1st quarter. Boston Partners now owns 859,389 shares of the software maker’s stock worth $91,396,000 after buying an additional 8,409 shares in the last quarter. Capital Research Global Investors lifted its position in Insight Enterprises by 173.7% in the 1st quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock worth $80,790,000 after buying an additional 477,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Insight Enterprises by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 620,035 shares of the software maker’s stock worth $66,095,000 after buying an additional 6,802 shares in the last quarter.

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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