Insight Enterprises (NASDAQ:NSIT) Reaches New 1-Year Low on Disappointing Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT)’s stock price reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $118.30 and last traded at $118.58, with a volume of 1080845 shares. The stock had previously closed at $144.59.

The software maker reported $2.45 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.04). Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company earned $2.46 EPS. The company’s revenue was down 3.3% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NSIT shares. Barrington Research reiterated an “outperform” rating and issued a $164.00 price objective on shares of Insight Enterprises in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price objective on Insight Enterprises from $152.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th.

Institutional Investors Weigh In On Insight Enterprises

Large investors have recently bought and sold shares of the business. Bessemer Group Inc. grew its position in Insight Enterprises by 79.2% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker’s stock worth $29,000 after acquiring an additional 84 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Insight Enterprises in the 1st quarter valued at $952,000. WCM Investment Management LLC boosted its position in Insight Enterprises by 60.9% in the 1st quarter. WCM Investment Management LLC now owns 114,047 shares of the software maker’s stock valued at $17,406,000 after buying an additional 43,186 shares during the last quarter. Raymond James Financial Inc. bought a new position in Insight Enterprises in the 4th quarter valued at $532,000. Finally, TT International Asset Management LTD bought a new position in Insight Enterprises in the 1st quarter valued at $3,705,000.

Insight Enterprises Price Performance

The stock has a market capitalization of $3.79 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a 50-day simple moving average of $137.23 and a 200 day simple moving average of $146.09.

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.