Horizon Investment Services LLC Buys Shares of 12,614 Digi International Inc. $DGII

Horizon Investment Services LLC purchased a new stake in shares of Digi International Inc. (NASDAQ:DGII) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,614 shares of the technology company’s stock, valued at approximately $945,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in Digi International by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after acquiring an additional 46,659 shares during the period. Bank of New York Mellon Corp bought a new position in Digi International during the second quarter worth about $16,274,000. Hillsdale Investment Management Inc. increased its stake in shares of Digi International by 3.4% in the first quarter. Hillsdale Investment Management Inc. now owns 199,635 shares of the technology company’s stock worth $9,622,000 after purchasing an additional 6,480 shares in the last quarter. Leuthold Group LLC increased its stake in shares of Digi International by 0.5% in the fourth quarter. Leuthold Group LLC now owns 56,738 shares of the technology company’s stock worth $2,456,000 after purchasing an additional 264 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new stake in shares of Digi International in the fourth quarter valued at approximately $2,410,000. Institutional investors own 95.90% of the company’s stock.

Digi International Price Performance

NASDAQ:DGII opened at $85.12 on Monday. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 67.56 and a beta of 0.97. Digi International Inc. has a 52-week low of $32.07 and a 52-week high of $86.84. The stock has a fifty day moving average of $70.80 and a 200 day moving average of $59.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.13.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $138.67 million during the quarter, compared to analysts’ expectations of $132.57 million. Digi International had a return on equity of 12.16% and a net margin of 9.63%.The firm’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. On average, research analysts expect that Digi International Inc. will post 2.31 EPS for the current fiscal year.

Insider Transactions at Digi International

In related news, CFO James J. Loch sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $69.44, for a total value of $6,944,000.00. Following the sale, the chief financial officer directly owned 167,589 shares of the company’s stock, valued at $11,637,380.16. This trade represents a 37.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James E. Freeland sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $68.00, for a total transaction of $30,600.00. Following the completion of the sale, the vice president directly owned 19,219 shares in the company, valued at $1,306,892. This represents a 2.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on DGII shares. Weiss Ratings upgraded shares of Digi International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Stephens lifted their price objective on shares of Digi International from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Roth Capital set a $90.00 target price on shares of Digi International and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research downgraded Digi International from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Craig Hallum raised their price target on Digi International from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.40.

Digi International Company Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.