StockNews.com Upgrades Insight Enterprises (NASDAQ:NSIT) to Buy

Insight Enterprises (NASDAQ:NSIT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

NSIT has been the subject of a number of other research reports. Barrington Research reaffirmed an “outperform” rating and issued a $211.00 target price on shares of Insight Enterprises in a research report on Tuesday, April 23rd. Stifel Nicolaus increased their price objective on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday.

Insight Enterprises Stock Up 8.6 %

NSIT stock opened at $193.74 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a market capitalization of $6.30 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.41 and a beta of 1.50. Insight Enterprises has a fifty-two week low of $121.91 and a fifty-two week high of $194.57. The business has a 50-day moving average of $184.54 and a 200-day moving average of $174.51.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, May 2nd. The software maker reported $2.37 EPS for the quarter, beating the consensus estimate of $1.82 by $0.55. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. On average, sell-side analysts anticipate that Insight Enterprises will post 10.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insight Enterprises news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the sale, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the sale, the chief accounting officer now directly owns 4,436 shares of the company’s stock, valued at $810,324.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the transaction, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,918 shares of company stock worth $3,888,203. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently modified their holdings of NSIT. Norges Bank acquired a new stake in shares of Insight Enterprises during the 4th quarter worth about $58,687,000. Westfield Capital Management Co. LP acquired a new stake in Insight Enterprises during the fourth quarter worth approximately $56,128,000. Pacer Advisors Inc. lifted its position in Insight Enterprises by 53.1% during the fourth quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock worth $126,194,000 after acquiring an additional 247,049 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Insight Enterprises by 6.4% in the third quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after purchasing an additional 245,814 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Insight Enterprises by 43.6% in the fourth quarter. Capital Research Global Investors now owns 585,929 shares of the software maker’s stock valued at $103,821,000 after purchasing an additional 177,943 shares during the last quarter.

Insight Enterprises Company Profile

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.