Insight Enterprises (NASDAQ:NSIT) Sets New 1-Year High – Still a Buy?

Insight Enterprises, Inc. (NASDAQ:NSIT) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $137.52 and last traded at $136.96, with a volume of 101691 shares traded. The stock had previously closed at $131.67.

Analyst Upgrades and Downgrades

NSIT has been the subject of a number of research reports. Weiss Ratings raised shares of Insight Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Needham & Company LLC raised Insight Enterprises to an “overweight” rating in a research note on Wednesday, May 27th. Raymond James Financial raised Insight Enterprises from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Thursday, May 7th. Zacks Research raised shares of Insight Enterprises from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Canaccord Genuity Group set a $75.00 price objective on shares of Insight Enterprises in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Insight Enterprises Stock Up 2.2%

The company has a 50-day moving average of $116.46 and a two-hundred day moving average of $93.08. The company has a quick ratio of 1.17, a current ratio of 1.22 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4.24 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $2.88 EPS for the quarter, topping the consensus estimate of $2.45 by $0.43. Insight Enterprises had a net margin of 2.17% and a return on equity of 20.89%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. Insight Enterprises’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Insight Enterprises, Inc. will post 10.89 EPS for the current year.

Insider Activity at Insight Enterprises

In other Insight Enterprises news, CFO James A. Morgado acquired 2,290 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $87.25 per share, with a total value of $199,802.50. Following the transaction, the chief financial officer owned 17,246 shares of the company’s stock, valued at $1,504,713.50. The trade was a 15.31% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insight Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning increased its holdings in shares of Insight Enterprises by 1.8% in the third quarter. Creative Planning now owns 7,630 shares of the software maker’s stock valued at $865,000 after purchasing an additional 135 shares during the period. CWM LLC boosted its position in Insight Enterprises by 39.2% in the fourth quarter. CWM LLC now owns 529 shares of the software maker’s stock valued at $43,000 after buying an additional 149 shares during the last quarter. Raymond James Financial Inc. increased its holdings in Insight Enterprises by 1.6% in the 3rd quarter. Raymond James Financial Inc. now owns 9,854 shares of the software maker’s stock worth $1,118,000 after buying an additional 154 shares during the period. EverSource Wealth Advisors LLC raised its position in Insight Enterprises by 26.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 775 shares of the software maker’s stock worth $107,000 after buying an additional 160 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Insight Enterprises by 4.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,782 shares of the software maker’s stock valued at $522,000 after acquiring an additional 162 shares during the period.

About Insight Enterprises

Insight Enterprises, Inc is a global technology provider headquartered in Tempe, Arizona. Founded in 1988, the company specializes in helping organizations harness the power of digital transformation by offering a comprehensive portfolio of IT hardware, software, cloud and licensing management solutions. Insight’s expertise spans across the full technology lifecycle, from initial strategy and consulting to implementation, integration and ongoing managed services.

At the core of Insight’s business are its consulting and professional services, which guide clients through complex technology environments and ensure optimal deployment of solutions.