Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, February 20th. The brokerage currently has a $40.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.90% from the company’s current price.
According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. 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 research analysts also recently weighed in on NSIT. B. Riley reaffirmed a “buy” rating and issued a $56.00 price target (up from $54.50) on shares of Insight Enterprises in a research note on Wednesday, November 8th. ValuEngine cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BidaskClub upgraded shares of Insight Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.00.
Insight Enterprises (NASDAQ:NSIT) traded down $0.35 during midday trading on Tuesday, hitting $35.12. 181,392 shares of the company traded hands, compared to its average volume of 201,414. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.38. The firm has a market cap of $1,285.45, a price-to-earnings ratio of 14.05 and a beta of 1.41. Insight Enterprises has a twelve month low of $32.10 and a twelve month high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, February 14th. The software maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.71 billion. Insight Enterprises had a net margin of 1.35% and a return on equity of 14.73%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. equities research analysts predict that Insight Enterprises will post 3.96 earnings per share for the current year.
Insight Enterprises announced that its board has initiated a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in Insight Enterprises by 1.8% during the 3rd quarter. Rhumbline Advisers now owns 75,784 shares of the software maker’s stock worth $3,480,000 after acquiring an additional 1,323 shares during the period. Legal & General Group Plc boosted its stake in shares of Insight Enterprises by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 104,990 shares of the software maker’s stock valued at $4,819,000 after purchasing an additional 1,342 shares in the last quarter. American International Group Inc. boosted its stake in shares of Insight Enterprises by 5.8% in the 3rd quarter. American International Group Inc. now owns 28,233 shares of the software maker’s stock valued at $1,296,000 after purchasing an additional 1,537 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Insight Enterprises by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 592,580 shares of the software maker’s stock valued at $22,690,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of Insight Enterprises by 16.1% in the 4th quarter. Alpha Windward LLC now owns 13,860 shares of the software maker’s stock valued at $531,000 after purchasing an additional 1,920 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors and hedge funds.
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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