Insight Enterprises, Inc. (NSIT) Stock Rating Upgraded by B. Riley
Insight Enterprises, Inc. (NASDAQ:NSIT) was upgraded by research analysts at B. Riley to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $54.50 price objective on the software maker’s stock. B. Riley’s price objective would suggest a potential upside of 22.69% from the company’s previous close.
A number of other brokerages have also recently weighed in on NSIT. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a report on Saturday, May 6th. Stifel Nicolaus restated a “hold” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Finally, BidaskClub cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $50.50.
Shares of Insight Enterprises (NASDAQ NSIT) traded down 0.25% during midday trading on Tuesday, hitting $44.31. 32,669 shares of the stock traded hands. The stock has a 50-day moving average of $41.16 and a 200-day moving average of $41.60. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 16.46 and a beta of 1.63. Insight Enterprises has a 52-week low of $24.23 and a 52-week high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. On average, equities analysts predict that Insight Enterprises will post $3.23 earnings per share for the current fiscal year.
In other Insight Enterprises news, CFO Glynis Bryan sold 3,946 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 39,643 shares in the company, valued at approximately $1,665,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NSIT. Victory Capital Management Inc. increased its stake in shares of Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after buying an additional 385 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Insight Enterprises by 27.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,640 shares of the software maker’s stock valued at $104,000 after buying an additional 792 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Insight Enterprises during the first quarter valued at $123,000. Acrospire Investment Management LLC bought a new stake in shares of Insight Enterprises during the first quarter valued at $132,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Insight Enterprises by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,196 shares of the software maker’s stock valued at $135,000 after buying an additional 627 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.
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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