Insight Enterprises, Inc. (NSIT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Insight Enterprises, Inc. (NASDAQ:NSIT) from a strong-buy rating to a hold rating in a research report released 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. “

Separately, Raymond James Financial, Inc. reissued an underperform rating on shares of Insight Enterprises in a research report on Thursday, January 12th.

Shares of Insight Enterprises (NASDAQ:NSIT) opened at 42.67 on Wednesday. The firm’s 50-day moving average is $42.00 and its 200-day moving average is $36.27. Insight Enterprises has a 12-month low of $23.31 and a 12-month high of $46.00. The firm has a market cap of $1.51 billion, a PE ratio of 18.39 and a beta of 1.91.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, February 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The firm earned $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Insight Enterprises had a net margin of 1.54% and a return on equity of 13.13%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Equities analysts expect that Insight Enterprises will post $2.85 earnings per share for the current fiscal year.

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In related news, VP Dana A. Leighty sold 4,649 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $42.45, for a total transaction of $197,350.05. Following the completion of the sale, the vice president now owns 5,404 shares of the company’s stock, valued at approximately $229,399.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven W. Dodenhoff sold 7,274 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $43.52, for a total transaction of $316,564.48. Following the sale, the insider now directly owns 35,983 shares of the company’s stock, valued at approximately $1,565,980.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,769 shares of company stock valued at $2,004,931. Corporate insiders own 1.23% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK acquired a new stake in Insight Enterprises during the fourth quarter worth about $30,955,000. Norges Bank acquired a new stake in Insight Enterprises during the fourth quarter worth about $18,477,000. BlackRock Institutional Trust Company N.A. increased its stake in Insight Enterprises by 32.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,234,545 shares of the company’s stock worth $40,184,000 after buying an additional 301,247 shares during the period. Russell Investments Group Ltd. acquired a new stake in Insight Enterprises during the fourth quarter worth about $8,752,000. Finally, Matarin Capital Management LLC acquired a new stake in Insight Enterprises during the third quarter worth about $6,914,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Insight Enterprises

Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.

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