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 firm presently has a $52.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 33.26% from the company’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. “
Several other equities analysts have also recently weighed in on NSIT. B. Riley upgraded Insight Enterprises from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $54.50 in a report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Finally, BidaskClub cut Insight Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.50.
Shares of Insight Enterprises (NASDAQ:NSIT) traded down 2.13% on Friday, hitting $39.02. The stock had a trading volume of 118,033 shares. Insight Enterprises has a 52 week low of $28.15 and a 52 week high of $53.19. The stock has a market capitalization of $1.40 billion, a P/E ratio of 14.49 and a beta of 1.63. The firm has a 50-day moving average price of $41.39 and a 200-day moving average price of $42.00.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Equities analysts expect that Insight Enterprises will post $3.23 earnings per share for the current fiscal year.
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In other news, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $41.90, for a total value of $209,500.00. Following the completion of the transaction, the chief financial officer now owns 30,797 shares in the company, valued at approximately $1,290,394.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in shares of 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 during the period. Louisiana State Employees Retirement System boosted its position in shares of Insight Enterprises by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the software maker’s stock worth $584,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in shares of Insight Enterprises by 0.5% in the second quarter. Arizona State Retirement System now owns 18,620 shares of the software maker’s stock worth $745,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Insight Enterprises by 0.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 21,310 shares of the software maker’s stock worth $875,000 after buying an additional 140 shares during the period. Finally, Rothschild Asset Management Inc. boosted its position in shares of Insight Enterprises by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 93,009 shares of the software maker’s stock worth $3,719,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors 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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