Insight Enterprises (NASDAQ:NSIT) announced that its Board of Directors has authorized a share buyback plan, which permits the company to repurchase $50.00 million in shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
NSIT has been the subject of several analyst reports. ValuEngine cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. B. Riley reaffirmed a “buy” rating and set a $56.00 price objective (up previously from $54.50) on shares of Insight Enterprises in a report on Wednesday, November 8th. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, January 3rd. Finally, BidaskClub downgraded Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $47.00.
Insight Enterprises (NASDAQ:NSIT) traded up $0.95 during mid-day trading on Thursday, hitting $35.18. The stock had a trading volume of 281,400 shares, compared to its average volume of 202,621. The company has a current ratio of 1.84, a quick ratio of 1.59 and a debt-to-equity ratio of 0.65. Insight Enterprises has a fifty-two week low of $32.10 and a fifty-two week high of $53.19. The firm has a market capitalization of $1,225.17, a price-to-earnings ratio of 13.81 and a beta of 1.40.
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Insight Enterprises Company Profile
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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