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

StockNews.com lowered shares of Insight Enterprises (NASDAQ:NSIT) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

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

Insight Enterprises Trading Up 2.1 %

Shares of NASDAQ:NSIT opened at $201.46 on Monday. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.53 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.22 and a current ratio of 1.27. The stock’s 50-day simple moving average is $194.72 and its two-hundred day simple moving average is $186.86. Insight Enterprises has a 52-week low of $131.59 and a 52-week high of $212.44.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $1.78 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Insight Enterprises will post 10.78 EPS for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, Director Holdings L.P. Valueact sold 450,000 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $192.49, for a total value of $86,620,500.00. Following the sale, the director now owns 4,061,739 shares of the company’s stock, valued at approximately $781,844,140.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Insight Enterprises news, Director Holdings L.P. Valueact sold 450,000 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $192.49, for a total value of $86,620,500.00. Following the sale, the director now owns 4,061,739 shares of the company’s stock, valued at approximately $781,844,140.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adrian P. Gregory sold 2,750 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $195.83, for a total value of $538,532.50. Following the completion of the transaction, the insider now owns 3,447 shares of the company’s stock, valued at approximately $675,026.01. The disclosure for this sale can be found here. Insiders have sold a total of 462,750 shares of company stock valued at $89,169,833 in the last quarter. 1.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insight Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of NSIT. Capital World Investors boosted its holdings in shares of Insight Enterprises by 27.8% in the 1st 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 purchased a new position in shares of Insight Enterprises in the 4th quarter worth approximately $58,687,000. Capital Research Global Investors boosted its holdings in shares of Insight Enterprises by 54.9% in the 1st quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock worth $168,398,000 after purchasing an additional 321,780 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Insight Enterprises in the 4th quarter worth approximately $56,128,000. Finally, Pacer Advisors Inc. boosted its holdings in Insight Enterprises by 53.1% during the 4th quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock valued at $126,194,000 after acquiring an additional 247,049 shares during the period.

About Insight Enterprises

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.