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

StockNews.com upgraded shares of Insight Enterprises (NASDAQ:NSIT) from a hold rating to a buy rating in a report released on Friday morning.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a neutral rating in a research note on Friday. Barrington Research reiterated an outperform rating and issued a $211.00 price objective on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus boosted their target price on Insight Enterprises from $170.00 to $192.00 and gave the stock a hold rating in a research note on Monday, April 15th.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT opened at $199.92 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.22 and a current ratio of 1.27. The firm’s 50-day simple moving average is $184.86 and its 200 day simple moving average is $175.08. The stock 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. Insight Enterprises has a fifty-two week low of $122.33 and a fifty-two week high of $201.86.

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

Insider Activity

In other news, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises stock in a transaction 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 completion of the transaction, the insider now directly owns 23,009 shares in the company, valued at $4,316,948.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction 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 sale, the insider now owns 23,009 shares in the company, valued at $4,316,948.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total value of $1,853,400.00. Following the transaction, the director now owns 30,647 shares of the company’s stock, valued at $5,680,114.98. The disclosure for this sale can be found here. Insiders sold 20,918 shares of company stock valued at $3,888,203 in the last three months. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

A number of institutional investors have recently made changes to their positions in NSIT. Vanguard Group Inc. increased its stake in 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 acquiring an additional 245,814 shares during the last quarter. Capital World Investors increased its position in shares of Insight Enterprises by 3.5% during the 4th quarter. Capital World Investors now owns 1,682,004 shares of the software maker’s stock valued at $298,034,000 after purchasing an additional 56,715 shares during the last quarter. Fiduciary Management Inc. WI raised its holdings in shares of Insight Enterprises by 2.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 791,752 shares of the software maker’s stock valued at $140,291,000 after buying an additional 21,501 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Insight Enterprises by 53.1% during the 4th quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock valued at $126,194,000 after buying an additional 247,049 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Insight Enterprises by 3.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock worth $112,577,000 after buying an additional 23,085 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.