Zacks Investment Research Upgrades Insight Enterprises (NASDAQ:NSIT) to Buy

Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $100.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.79% from the company’s current price.

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. “

Several other research analysts have also recently weighed in on NSIT. Barrington Research raised their target price on Insight Enterprises from $110.00 to $116.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. JPMorgan Chase & Co. lowered Insight Enterprises from an “overweight” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a report on Wednesday, June 16th. They noted that the move was a valuation call.

NASDAQ:NSIT opened at $91.08 on Thursday. The company has a market capitalization of $3.17 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.15 and a beta of 1.84. The company has a quick ratio of 1.35, a current ratio of 1.43 and a debt-to-equity ratio of 0.34. Insight Enterprises has a 52-week low of $52.63 and a 52-week high of $107.26. The stock has a fifty day simple moving average of $97.24 and a 200-day simple moving average of $98.76.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, August 5th. The software maker reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Insight Enterprises had a return on equity of 16.74% and a net margin of 2.24%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Insight Enterprises will post 6.83 earnings per share for the current year.

In other Insight Enterprises news, insider Rachael Ann Bertrandt Crump sold 600 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $100.91, for a total transaction of $60,546.00. Following the completion of the sale, the insider now directly owns 1,781 shares in the company, valued at $179,720.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glynis Bryan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $98.45, for a total transaction of $492,250.00. The disclosure for this sale can be found here. Insiders have sold 9,732 shares of company stock worth $952,197 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. lifted its holdings in Insight Enterprises by 158.5% during the second quarter. ValueAct Holdings L.P. now owns 2,843,690 shares of the software maker’s stock valued at $284,397,000 after purchasing an additional 1,743,690 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Insight Enterprises by 1,309.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 245,679 shares of the software maker’s stock valued at $23,443,000 after purchasing an additional 228,245 shares during the period. Janus Henderson Group PLC increased its holdings in Insight Enterprises by 22.4% in the first quarter. Janus Henderson Group PLC now owns 668,514 shares of the software maker’s stock valued at $63,790,000 after buying an additional 122,291 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Insight Enterprises in the second quarter valued at about $12,045,000. Finally, Vanguard Group Inc. increased its stake in shares of Insight Enterprises by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,874,433 shares of the software maker’s stock worth $387,483,000 after purchasing an additional 98,877 shares in the last quarter.

About Insight Enterprises

Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America; Europe, the Middle East and Africa; and Asia-Pacific.

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