Insight Enterprises (NASDAQ:NSIT) Trading Down 9.7% on Disappointing Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT)’s stock price fell 9.7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $184.01 and last traded at $184.02. 100,262 shares changed hands during trading, a decline of 55% from the average session volume of 222,340 shares. The stock had previously closed at $203.89.

The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the company earned $2.37 EPS. Insight Enterprises’s quarterly revenue was down 7.9% on a year-over-year basis.

Analyst Ratings Changes

NSIT has been the subject of a number of analyst reports. StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. lowered their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Finally, Barrington Research restated an “outperform” rating and issued a $225.00 target price on shares of Insight Enterprises in a research report on Friday, September 20th.

Insider Transactions at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Insight Enterprises

A number of institutional investors have recently added to or reduced their stakes in NSIT. Atria Investments Inc acquired a new position in shares of Insight Enterprises during the 3rd quarter valued at $215,000. Assetmark Inc. raised its position in Insight Enterprises by 10.6% in the third quarter. Assetmark Inc. now owns 14,204 shares of the software maker’s stock worth $3,059,000 after acquiring an additional 1,367 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Insight Enterprises by 48.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,656 shares of the software maker’s stock valued at $357,000 after acquiring an additional 541 shares during the last quarter. Forte Capital LLC ADV bought a new position in shares of Insight Enterprises during the 3rd quarter valued at about $3,141,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Insight Enterprises in the 3rd quarter worth approximately $1,166,000.

Insight Enterprises Price Performance

The firm has a market capitalization of $5.61 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.59 and a beta of 1.45. The business’s fifty day moving average is $211.71 and its 200 day moving average is $203.70. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.