Insight Enterprises (NSIT) Stock Price Down 10.7% After Earnings Miss

Insight Enterprises, Inc. (NASDAQ:NSIT)’s share price traded down 10.7% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $40.31 and last traded at $45.00. 797,921 shares changed hands during mid-day trading, an increase of 242% from the average session volume of 233,115 shares. The stock had previously closed at $50.42.

The software maker reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.84 billion. Insight Enterprises had a net margin of 1.69% and a return on equity of 16.42%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share.

A number of research analysts have weighed in on the company. BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley raised their price target on Insight Enterprises from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine downgraded Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, July 25th.

In other news, insider Steven W. Dodenhoff sold 4,827 shares of the firm’s stock in a transaction that occurred on 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 directly owns 29,216 shares of the company’s stock, valued at $1,652,749.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samuel C. Cowley sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $53.06, for a total value of $318,360.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,827 shares of company stock valued at $859,173. Insiders own 1.77% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Insight Enterprises by 1.3% in the second quarter. BlackRock Inc. now owns 4,951,035 shares of the software maker’s stock valued at $242,253,000 after buying an additional 61,682 shares during the last quarter. Northern Trust Corp lifted its position in shares of Insight Enterprises by 2.3% in the second quarter. Northern Trust Corp now owns 1,581,099 shares of the software maker’s stock valued at $77,362,000 after buying an additional 35,657 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Insight Enterprises by 7.7% in the third quarter. Frontier Capital Management Co. LLC now owns 973,870 shares of the software maker’s stock valued at $52,677,000 after buying an additional 69,222 shares during the last quarter. Boston Partners lifted its position in shares of Insight Enterprises by 3.3% in the second quarter. Boston Partners now owns 966,531 shares of the software maker’s stock valued at $47,292,000 after buying an additional 30,598 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Insight Enterprises by 9.4% in the third quarter. LSV Asset Management now owns 698,967 shares of the software maker’s stock valued at $37,807,000 after buying an additional 59,767 shares during the last quarter. 95.83% of the stock is owned by institutional investors.

The stock has a market cap of $1.79 billion, a PE ratio of 14.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.28.

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Insight Enterprises Company Profile (NASDAQ:NSIT)

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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