Insight Enterprises (NASDAQ:NSIT) Downgraded to Sell at ValuEngine

Insight Enterprises (NASDAQ:NSIT) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday, ValuEngine reports.

Several other research firms have also recently commented on NSIT. B. Riley restated a “buy” rating on shares of Insight Enterprises in a research note on Monday, April 29th. Stifel Nicolaus upped their price target on Insight Enterprises from $54.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. Zacks Investment Research cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, BidaskClub cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Insight Enterprises has a consensus rating of “Hold” and a consensus target price of $60.33.

Shares of Insight Enterprises stock traded down $1.66 during trading hours on Friday, hitting $53.39. 166,300 shares of the company were exchanged, compared to its average volume of 185,459. Insight Enterprises has a 1 year low of $37.77 and a 1 year high of $60.10. The company has a quick ratio of 1.39, a current ratio of 1.53 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $56.61. The firm has a market capitalization of $1.97 billion, a PE ratio of 11.53 and a beta of 1.20.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.20. Insight Enterprises had a return on equity of 17.80% and a net margin of 2.42%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Insight Enterprises will post 4.82 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. purchased a new position in Insight Enterprises in the second quarter worth $29,000. DekaBank Deutsche Girozentrale purchased a new position in Insight Enterprises in the second quarter worth $71,000. Cambria Investment Management L.P. purchased a new position in Insight Enterprises in the first quarter worth $175,000. Amalgamated Bank raised its position in Insight Enterprises by 27.4% in the fourth quarter. Amalgamated Bank now owns 5,220 shares of the software maker’s stock worth $213,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Insight Enterprises in the first quarter worth $235,000. Hedge funds and other institutional investors own 97.87% of the company’s stock.

Insight Enterprises Company Profile

Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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