ValuEngine Downgrades Insight Enterprises (NSIT) to Sell

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Insight Enterprises (NASDAQ:NSIT) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also weighed in on NSIT. BidaskClub lowered Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. B. Riley lifted their price objective on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, July 25th.

Shares of NASDAQ NSIT traded down $5.42 during trading on Wednesday, reaching $45.00. 797,921 shares of the company traded hands, compared to its average volume of 233,115. The firm has a market capitalization of $1.84 billion, a P/E ratio of 13.89 and a beta of 1.19. Insight Enterprises has a 12-month low of $32.10 and a 12-month high of $56.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.28 and a current ratio of 1.37.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. As a group, analysts forecast that Insight Enterprises will post 4.54 earnings per share for the current year.

In other Insight Enterprises news, insider Samuel C. Cowley sold 6,000 shares of Insight Enterprises stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $53.06, for a total transaction of $318,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Ibarguen sold 5,000 shares of Insight Enterprises stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $53.55, for a total value of $267,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,827 shares of company stock valued at $859,173 in the last quarter. Company insiders own 1.77% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in shares of Insight Enterprises in the 2nd quarter valued at about $108,000. Meeder Asset Management Inc. increased its stake in shares of Insight Enterprises by 7,465.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,253 shares of the software maker’s stock valued at $159,000 after purchasing an additional 3,210 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Insight Enterprises in the 2nd quarter valued at about $204,000. CIBC Asset Management Inc purchased a new position in shares of Insight Enterprises in the 2nd quarter valued at about $218,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Insight Enterprises in the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.

About Insight Enterprises

Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.

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