Insight Enterprises, Inc. (NSIT) Receives Average Recommendation of “Hold” from Analysts
Insight Enterprises, Inc. (NASDAQ:NSIT) has been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $47.67.
Several equities research analysts have recently commented on NSIT shares. Zacks Investment Research lowered shares of Insight Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. B. Riley reissued a “neutral” rating and set a $44.00 target price on shares of Insight Enterprises in a research report on Wednesday, April 12th. Stifel Nicolaus boosted their target price on shares of Insight Enterprises from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. BidaskClub downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th.
In related news, CFO Glynis Bryan sold 3,946 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were 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 in the company, valued at $1,665,006. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Insight Enterprises during the fourth quarter valued at approximately $8,752,000. State Board of Administration of Florida Retirement System raised its position in Insight Enterprises by 17.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 60,868 shares of the software maker’s stock valued at $2,462,000 after buying an additional 8,853 shares during the last quarter. Comerica Bank raised its position in Insight Enterprises by 66.3% in the fourth quarter. Comerica Bank now owns 80,829 shares of the software maker’s stock valued at $2,980,000 after buying an additional 32,216 shares during the last quarter. State Street Corp raised its position in Insight Enterprises by 8.3% in the fourth quarter. State Street Corp now owns 962,152 shares of the software maker’s stock valued at $38,906,000 after buying an additional 73,705 shares during the last quarter. Finally, Oxford Asset Management acquired a new position in Insight Enterprises during the fourth quarter valued at approximately $332,000. 97.85% of the stock is owned by institutional investors.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Wednesday, May 3rd. The software maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. Insight Enterprises had a net margin of 1.58% and a return on equity of 14.68%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year.
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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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