Insight Enterprises, Inc. (NSIT) Rating Reiterated by Stifel Nicolaus
Insight Enterprises, Inc. (NASDAQ:NSIT)‘s stock had its “hold” rating reissued by equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $45.00 target price on the software maker’s stock, up from their prior target price of $42.00. Stifel Nicolaus’ price objective would indicate a potential downside of 2.56% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. B. Riley upgraded Insight Enterprises from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $54.50 in a research report on Thursday. Zacks Investment Research upgraded Insight Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Insight Enterprises in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Insight Enterprises currently has a consensus rating of “Hold” and an average target price of $50.83.
Shares of Insight Enterprises (NSIT) traded up 14.11% on Thursday, reaching $46.18. The company had a trading volume of 515,113 shares. Insight Enterprises has a 12 month low of $24.23 and a 12 month high of $53.19. The company’s 50-day moving average is $41.16 and its 200 day moving average is $41.60. The firm has a market capitalization of $1.65 billion, a PE ratio of 18.33 and a beta of 1.64.
Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.19. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Insight Enterprises had a return on equity of 14.68% and a net margin of 1.58%. Insight Enterprises’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. Equities analysts forecast that Insight Enterprises will post $3.08 earnings per share for the current year.
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In related news, CFO Glynis Bryan sold 3,946 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.00, for a total transaction of $165,732.00. Following the completion of the sale, the chief financial officer now directly owns 39,643 shares of the company’s stock, valued at approximately $1,665,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Insight Enterprises by 32,650.5% in the first quarter. BlackRock Inc. now owns 4,523,829 shares of the software maker’s stock worth $185,884,000 after buying an additional 4,510,016 shares in the last quarter. Vanguard Group Inc. boosted its stake in Insight Enterprises by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock worth $133,243,000 after buying an additional 144,077 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Insight Enterprises by 5.8% in the first quarter. Acadian Asset Management LLC now owns 1,308,316 shares of the software maker’s stock worth $53,758,000 after buying an additional 72,041 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in Insight Enterprises by 23.5% in the first quarter. Aberdeen Asset Management PLC UK now owns 945,702 shares of the software maker’s stock worth $38,859,000 after buying an additional 180,256 shares in the last quarter. Finally, Boston Partners boosted its stake in Insight Enterprises by 3.7% in the second quarter. Boston Partners now owns 635,872 shares of the software maker’s stock worth $25,428,000 after buying an additional 22,702 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.
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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