BidaskClub Downgrades Insight Enterprises (NASDAQ:NSIT) to Hold

Share on StockTwits

Insight Enterprises (NASDAQ:NSIT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other analysts also recently commented on the company. B. Riley reaffirmed a “buy” rating on shares of Insight Enterprises in a research note on Monday, April 29th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus started coverage on Madrigal Pharmaceuticals in a research note on Monday, June 24th. They issued a “hold” rating and a $126.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $60.33.

NSIT traded up $0.41 during mid-day trading on Wednesday, reaching $56.07. The stock had a trading volume of 2,251 shares, compared to its average volume of 138,546. The company has a market cap of $2.01 billion, a PE ratio of 12.11 and a beta of 1.20. 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 stock has a fifty day moving average price of $56.36. Insight Enterprises has a 52 week low of $37.77 and a 52 week high of $60.10.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.10 earnings per share (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 for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts expect that Insight Enterprises will post 4.82 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Insight Enterprises by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 488,143 shares of the software maker’s stock worth $19,892,000 after acquiring an additional 16,701 shares during the period. Geode Capital Management LLC increased its holdings in shares of Insight Enterprises by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 476,607 shares of the software maker’s stock worth $19,421,000 after buying an additional 21,729 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Insight Enterprises by 6.3% during the fourth quarter. Principal Financial Group Inc. now owns 312,860 shares of the software maker’s stock worth $12,749,000 after buying an additional 18,514 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Insight Enterprises by 24.0% during the fourth quarter. Bank of America Corp DE now owns 101,173 shares of the software maker’s stock worth $4,122,000 after buying an additional 19,596 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Insight Enterprises by 49.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,035 shares of the software maker’s stock worth $3,710,000 after buying an additional 30,212 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

About Insight Enterprises

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.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.