Insight Enterprises Inc. (NASDAQ:NSIT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Insight is a global direct marketer of brand name computers, hardware and software. 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. “
Insight Enterprises (NASDAQ:NSIT) traded down 0.40% during midday trading on Wednesday, reaching $32.52. The company had a trading volume of 9,963 shares. The firm has a market capitalization of $1.15 billion, a P/E ratio of 14.90 and a beta of 1.77. Insight Enterprises has a one year low of $18.26 and a one year high of $32.77. The stock’s 50 day moving average price is $31.16 and its 200-day moving average price is $28.18.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.22. Insight Enterprises had a net margin of 1.52% and a return on equity of 12.71%. The company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.68 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Insight Enterprises will post $2.43 earnings per share for the current year.
In other news, VP Dana A. Leighty sold 1,986 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $31.13, for a total transaction of $61,824.18. Following the completion of the transaction, the vice president now directly owns 5,404 shares in the company, valued at approximately $168,226.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wolfgang Ebermann sold 15,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $474,600.00. Following the transaction, the insider now owns 14,711 shares of the company’s stock, valued at $465,456.04. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in Insight Enterprises during the second quarter worth approximately $8,613,000. Calvert Investment Management Inc. purchased a new stake in shares of Insight Enterprises during the second quarter worth about $2,932,000. Pzena Investment Management LLC boosted its stake in shares of Insight Enterprises by 7.6% in the second quarter. Pzena Investment Management LLC now owns 1,317,814 shares of the company’s stock worth $34,263,000 after buying an additional 93,541 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Insight Enterprises by 59.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 244,353 shares of the company’s stock worth $6,354,000 after buying an additional 90,693 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Insight Enterprises during the second quarter worth about $2,314,000. Institutional investors own 98.61% of the company’s stock.
Insight Enterprises Company Profile
Insight Enterprises, Inc is a provider of hardware, software, Cloud and service solutions to business, government, healthcare and educational clients. The Company consults, designs, implements and manages integrated information technology (IT) solutions for its clients. These solutions include services and products designed to support networking, collaboration, storage, security, Cloud, mobility, converged infrastructure and other advanced technologies.
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