Zacks Investment Research upgraded shares of Insight Enterprises (NASDAQ:NSIT) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $43.00 price target on the software maker’s stock.
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. “
A number of other research firms have also recently commented on NSIT. B. Riley reiterated a buy rating and set a $56.00 target price (up from $54.50) on shares of Insight Enterprises in a research note on Wednesday, November 8th. ValuEngine cut Insight Enterprises from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, BidaskClub cut Insight Enterprises from a sell rating to a strong sell rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $48.00.
Insight Enterprises (NSIT) traded up $0.72 during midday trading on Tuesday, hitting $38.61. The stock had a trading volume of 200,625 shares, compared to its average volume of 223,742. The company has a market cap of $1,380.00, a PE ratio of 14.30 and a beta of 1.56. Insight Enterprises has a 12 month low of $35.26 and a 12 month high of $53.19. The company has a quick ratio of 1.59, a current ratio of 1.84 and a debt-to-equity ratio of 0.65.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Tuesday, November 7th. The software maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Insight Enterprises had a return on equity of 14.90% and a net margin of 1.53%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. equities research analysts forecast that Insight Enterprises will post 3.22 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Insight Enterprises by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after acquiring an additional 385 shares during the period. Bayesian Capital Management LP raised its stake in Insight Enterprises by 21.6% in the 2nd quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock valued at $257,000 after acquiring an additional 1,143 shares during the period. Alpha Windward LLC raised its stake in Insight Enterprises by 11.8% in the 3rd quarter. Alpha Windward LLC now owns 11,940 shares of the software maker’s stock valued at $548,000 after acquiring an additional 1,260 shares during the period. Rhumbline Advisers raised its stake in Insight Enterprises by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 75,784 shares of the software maker’s stock valued at $3,480,000 after acquiring an additional 1,323 shares during the period. Finally, Legal & General Group Plc raised its stake in 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 acquiring an additional 1,342 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.
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About Insight Enterprises
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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