Insight Enterprises (NASDAQ:NSIT) Hits New 12-Month High After Analyst Upgrade

Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) hit a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $197.11 and last traded at $196.17, with a volume of 12147 shares trading hands. The stock had previously closed at $193.74.

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

Insider Activity

In related news, Director Kathleen S. Pushor sold 1,790 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares in the company, valued at approximately $1,073,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the transaction, the director now directly owns 30,647 shares of the company’s stock, valued at approximately $5,680,114.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the completion of the transaction, the director now owns 5,800 shares of the company’s stock, valued at approximately $1,073,696. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,918 shares of company stock valued at $3,888,203. 1.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insight Enterprises

A number of large investors have recently modified their holdings of NSIT. GAMMA Investing LLC acquired a new stake in Insight Enterprises in the fourth quarter valued at $40,000. SRS Capital Advisors Inc. acquired a new position in shares of Insight Enterprises in the 4th quarter valued at $46,000. Signaturefd LLC raised its stake in Insight Enterprises by 26.9% during the 4th quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock worth $69,000 after acquiring an additional 83 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in Insight Enterprises in the fourth quarter valued at $89,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Insight Enterprises during the fourth quarter worth about $94,000.

Insight Enterprises Price Performance

The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.40 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22. The stock has a 50-day moving average price of $184.86 and a 200 day moving average price of $175.08.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $1.78 earnings per share. Insight Enterprises’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share for the current fiscal year.

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.