Insight Enterprises (NASDAQ:NSIT) announced its quarterly earnings data on Wednesday. The software maker reported $0.91 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.09), MarketWatch Earnings reports. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. Insight Enterprises updated its FY18 guidance to $4.40-4.45 EPS.
Shares of NSIT traded up $0.40 during trading hours on Friday, hitting $45.97. The company had a trading volume of 2,935 shares, compared to its average volume of 204,464. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.28. The firm has a market cap of $1.79 billion, a PE ratio of 13.95 and a beta of 1.19. Insight Enterprises has a 52-week low of $32.10 and a 52-week high of $56.86.
Several equities analysts have recently issued reports on NSIT shares. B. Riley lifted their price target on Insight Enterprises from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Wednesday, July 25th. BidaskClub lowered Insight Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, ValuEngine lowered Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday.
In related news, Director Anthony Ibarguen sold 5,000 shares of Insight Enterprises stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total value of $267,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven W. Dodenhoff sold 4,827 shares of Insight Enterprises stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $56.57, for a total value of $273,063.39. Following the completion of the sale, the insider now owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,827 shares of company stock valued at $859,173. 1.77% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in Insight Enterprises by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 8,082 shares of the software maker’s stock worth $395,000 after buying an additional 1,108 shares in the last quarter. Aperio Group LLC increased its holdings in Insight Enterprises by 6.1% in the 2nd quarter. Aperio Group LLC now owns 26,383 shares of the software maker’s stock worth $1,291,000 after buying an additional 1,520 shares in the last quarter. First Quadrant L P CA increased its holdings in Insight Enterprises by 16.5% in the 3rd quarter. First Quadrant L P CA now owns 11,174 shares of the software maker’s stock worth $604,000 after buying an additional 1,586 shares in the last quarter. Smith Asset Management Group LP increased its holdings in Insight Enterprises by 3.9% in the 3rd quarter. Smith Asset Management Group LP now owns 44,710 shares of the software maker’s stock worth $2,418,000 after buying an additional 1,680 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Insight Enterprises in the 2nd quarter worth about $108,000. Institutional investors own 95.83% of the company’s stock.
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Insight Enterprises Company Profile
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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