Insight Enterprises (NASDAQ:NSIT) Hits New 1-Year Low After Analyst Downgrade

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) hit a new 52-week low on Monday after Barrington Research lowered their price target on the stock from $205.00 to $164.00. Barrington Research currently has an outperform rating on the stock. Insight Enterprises traded as low as $126.32 and last traded at $131.13, with a volume of 197132 shares changing hands. The stock had previously closed at $132.04.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently modified their holdings of NSIT. Chatham Capital Group Inc. grew its position in Insight Enterprises by 4.4% during the 1st quarter. Chatham Capital Group Inc. now owns 28,948 shares of the software maker's stock valued at $4,342,000 after purchasing an additional 1,210 shares during the last quarter. Sendero Wealth Management LLC lifted its stake in shares of Insight Enterprises by 39.4% in the first quarter. Sendero Wealth Management LLC now owns 5,775 shares of the software maker's stock worth $866,000 after buying an additional 1,631 shares in the last quarter. Romano Brothers AND Company grew its holdings in shares of Insight Enterprises by 10.4% during the first quarter. Romano Brothers AND Company now owns 4,250 shares of the software maker's stock valued at $637,000 after buying an additional 400 shares during the last quarter. NBC Securities Inc. increased its position in shares of Insight Enterprises by 134,233.3% during the first quarter. NBC Securities Inc. now owns 4,030 shares of the software maker's stock valued at $604,000 after acquiring an additional 4,027 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Insight Enterprises by 40.4% in the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after acquiring an additional 95 shares during the last quarter.

Insight Enterprises Stock Performance

The business's fifty day moving average is $153.65 and its two-hundred day moving average is $167.94. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.27 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.13. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. During the same period in the previous year, the company earned $2.98 earnings per share. Equities research analysts predict that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

About Insight Enterprises

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.