Insight Enterprises, Inc. (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, August 5th. The brokerage currently has a $52.00 price target on the software maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 33.26% from the stock’s current price.
According to Zacks, “Insight is a global direct marketer of brand name computers, hardware and software. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “
NSIT has been the topic of a number of other reports. B. Riley reiterated a “neutral” rating and issued a $44.00 target price on shares of Insight Enterprises in a report on Tuesday, May 2nd. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 target price (up from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Insight Enterprises currently has a consensus rating of “Hold” and an average price target of $50.50.
Shares of Insight Enterprises (NASDAQ NSIT) traded down 2.13% on Friday, reaching $39.02. 118,033 shares of the company’s stock were exchanged. The company has a market capitalization of $1.40 billion, a P/E ratio of 14.49 and a beta of 1.63. The stock’s 50-day moving average price is $41.39 and its 200-day moving average price is $42.00. Insight Enterprises has a 1-year low of $28.15 and a 1-year high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts anticipate that Insight Enterprises will post $3.23 EPS for the current fiscal year.
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In other news, CFO Glynis Bryan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $41.90, for a total transaction of $209,500.00. Following the sale, the chief financial officer now owns 30,797 shares in the company, valued at $1,290,394.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.23% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NSIT. Victory Capital Management Inc. raised its stake in Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $103,000 after buying an additional 385 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Insight Enterprises during the first quarter worth about $123,000. State of Alaska Department of Revenue raised its stake in Insight Enterprises by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,920 shares of the software maker’s stock worth $161,000 after buying an additional 80 shares in the last quarter. Invictus RG purchased a new stake in Insight Enterprises during the first quarter worth about $199,000. Finally, Bayesian Capital Management LP raised its stake in Insight Enterprises by 21.6% in the second quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock worth $257,000 after buying an additional 1,143 shares in the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.
Insight Enterprises Company Profile
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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