Insight Enterprises (NASDAQ:NSIT) Reaches New 52-Week Low – Time to Sell?

Insight Enterprises, Inc. (NASDAQ:NSIT)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $146.56 and last traded at $147.51, with a volume of 99523 shares changing hands. The stock had previously closed at $149.61.

Wall Street Analysts Forecast Growth

NSIT has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barrington Research decreased their price target on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Redburn Atlantic assumed coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They issued a “buy” rating and a $220.00 price target for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $212.50.

Insight Enterprises Stock Performance

The firm has a market capitalization of $4.74 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The company’s 50 day moving average is $199.82 and its 200-day moving average is $202.22. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a net margin of 3.42% and a return on equity of 19.71%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.37 earnings per share. As a group, equities analysts anticipate that Insight Enterprises, Inc. will post 9.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NSIT. Coldstream Capital Management Inc. purchased a new position in Insight Enterprises during the 3rd quarter valued at $203,000. Geode Capital Management LLC boosted its stake in Insight Enterprises by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock worth $142,073,000 after purchasing an additional 10,711 shares in the last quarter. Barclays PLC lifted its stake in Insight Enterprises by 178.3% during the 3rd quarter. Barclays PLC now owns 56,402 shares of the software maker’s stock valued at $12,150,000 after acquiring an additional 36,132 shares during the period. Wellington Management Group LLP lifted its stake in Insight Enterprises by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 163,400 shares of the software maker’s stock valued at $35,195,000 after acquiring an additional 20,851 shares during the period. Finally, Wolverine Trading LLC bought a new position in Insight Enterprises during the 3rd quarter valued at about $479,000.

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.