Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) have received an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $46.00.
A number of research analysts have weighed in on NSIT shares. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Tuesday, January 9th. BidaskClub raised Insight Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, February 16th. ValuEngine downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, B. Riley reissued a “buy” rating and issued a $53.00 target price (down previously from $56.00) on shares of Insight Enterprises in a report on Tuesday, February 13th.
Several hedge funds and other institutional investors have recently bought and sold shares of NSIT. First Trust Advisors LP raised its stake in shares of Insight Enterprises by 17.8% in the third quarter. First Trust Advisors LP now owns 50,865 shares of the software maker’s stock worth $2,336,000 after buying an additional 7,683 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Insight Enterprises by 24.0% in the third quarter. BNP Paribas Arbitrage SA now owns 21,180 shares of the software maker’s stock worth $973,000 after buying an additional 4,093 shares during the period. CIBC Asset Management Inc bought a new position in shares of Insight Enterprises in the third quarter worth about $205,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Insight Enterprises by 24.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 25,230 shares of the software maker’s stock worth $1,159,000 after buying an additional 4,960 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Insight Enterprises by 26.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,875 shares of the software maker’s stock worth $1,096,000 after buying an additional 4,950 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
Insight Enterprises (NSIT) traded down $0.23 during mid-day trading on Tuesday, reaching $34.46. The company’s stock had a trading volume of 6,284 shares, compared to its average volume of 200,617. Insight Enterprises has a 52 week low of $32.10 and a 52 week high of $53.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.38 and a current ratio of 1.54. The company has a market capitalization of $1,257.50, a P/E ratio of 13.88 and a beta of 1.41.
Insight Enterprises (NASDAQ:NSIT) last posted 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. Insight Enterprises had a return on equity of 14.73% and a net margin of 1.35%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. Insight Enterprises’s revenue was up 21.6% on a year-over-year basis. sell-side analysts anticipate that Insight Enterprises will post 3.96 EPS for the current year.
Insight Enterprises declared that its board has authorized a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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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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