Insight Enterprises (NASDAQ:NSIT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Insight Enterprises (NASDAQ:NSIT) from a buy rating to a hold rating in a report released on Wednesday, 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, Barrington Research increased their target price on Insight Enterprises from $116.00 to $122.00 and gave the stock an outperform rating in a research report on Thursday, November 11th.

NSIT stock opened at $102.77 on Wednesday. The stock’s 50 day simple moving average is $103.45 and its 200 day simple moving average is $98.84. Insight Enterprises has a fifty-two week low of $75.38 and a fifty-two week high of $111.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.42 and a current ratio of 1.55. The company has a market cap of $3.59 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.77.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, November 4th. The software maker reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.19. Insight Enterprises had a return on equity of 17.39% and a net margin of 2.30%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company posted $1.38 earnings per share. Insight Enterprises’s quarterly revenue was up 26.4% on a year-over-year basis. Equities analysts predict that Insight Enterprises will post 7.05 earnings per share for the current year.

In other news, CEO Kenneth T. Lamneck sold 1,000 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $97.03, for a total transaction of $97,030.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kenneth T. Lamneck sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 3rd. The shares were sold at an average price of $107.44, for a total transaction of $322,320.00. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock worth $6,023,475 over the last three months. 2.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its position in shares of Insight Enterprises by 10,533.3% during the second quarter. Meeder Asset Management Inc. now owns 319 shares of the software maker’s stock valued at $32,000 after acquiring an additional 316 shares in the last quarter. US Bancorp DE increased its position in shares of Insight Enterprises by 112.5% during the third quarter. US Bancorp DE now owns 442 shares of the software maker’s stock valued at $40,000 after acquiring an additional 234 shares in the last quarter. Huntington National Bank grew its position in Insight Enterprises by 58,200.0% in the 3rd quarter. Huntington National Bank now owns 583 shares of the software maker’s stock worth $53,000 after purchasing an additional 582 shares during the period. Raymond James & Associates grew its position in Insight Enterprises by 14.8% in the 3rd quarter. Raymond James & Associates now owns 2,396 shares of the software maker’s stock worth $216,000 after purchasing an additional 308 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in Insight Enterprises in the 3rd quarter worth approximately $240,000.

Insight Enterprises Company Profile

Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America; Europe, the Middle East and Africa; and Asia-Pacific.

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