Insight Enterprises (NSIT) Raised to “Buy” at Zacks Investment Research

Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $43.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.17% from the stock’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. “

Other analysts have also issued reports about the stock. ValuEngine lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday. BidaskClub lowered shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Finally, B. Riley restated a “buy” rating and issued a $56.00 price target (up from $54.50) on shares of Insight Enterprises in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.00.

Insight Enterprises (NASDAQ:NSIT) traded up $0.39 during trading hours on Wednesday, reaching $38.68. 289,500 shares of the company were exchanged, compared to its average volume of 223,050. Insight Enterprises has a 1-year low of $35.26 and a 1-year high of $53.19. The company has a quick ratio of 1.59, a current ratio of 1.84 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1,370.48, a price-to-earnings ratio of 14.33 and a beta of 1.56.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Tuesday, November 7th. The software maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.59 billion. Insight Enterprises had a net margin of 1.53% and a return on equity of 14.90%. Insight Enterprises’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. equities analysts anticipate that Insight Enterprises will post 3.22 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highbridge Capital Management LLC bought a new position in shares of Insight Enterprises during the 3rd quarter worth about $333,000. Allianz Asset Management GmbH lifted its holdings in shares of Insight Enterprises by 95.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 84,125 shares of the software maker’s stock worth $3,863,000 after acquiring an additional 41,082 shares during the period. KBC Group NV lifted its holdings in shares of Insight Enterprises by 33.1% during the 3rd quarter. KBC Group NV now owns 45,620 shares of the software maker’s stock worth $2,095,000 after acquiring an additional 11,357 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Insight Enterprises by 3.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 430,139 shares of the software maker’s stock worth $19,752,000 after acquiring an additional 13,015 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Insight Enterprises during the 3rd quarter worth about $2,202,000. Institutional investors own 97.19% of the company’s stock.

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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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