StockNews.com Upgrades Insight Enterprises (NASDAQ:NSIT) to “Buy”

Insight Enterprises (NASDAQ:NSIT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

NSIT has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus boosted their price target on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Barrington Research restated an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a report on Tuesday, April 23rd.

Insight Enterprises Stock Up 8.6 %

Shares of NSIT traded up $15.32 during trading hours on Friday, reaching $193.74. The company’s stock had a trading volume of 426,548 shares, compared to its average volume of 246,220. The company has a 50 day moving average of $184.54 and a two-hundred day moving average of $174.35. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.34. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.26 and a beta of 1.50. Insight Enterprises has a 1-year low of $121.91 and a 1-year high of $194.57.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.55. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. Insight Enterprises had a net margin of 3.07% and a return on equity of 20.64%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. As a group, research analysts predict that Insight Enterprises will post 10.59 EPS for the current fiscal year.

Insider Buying and Selling at Insight Enterprises

In other news, insider Samuel C. Cowley sold 7,278 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the completion of the sale, the insider now owns 23,009 shares in the company, valued at approximately $4,316,948.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Samuel C. Cowley sold 7,278 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the transaction, the insider now directly owns 23,009 shares of the company’s stock, valued at approximately $4,316,948.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the transaction, the chief accounting officer now owns 4,436 shares in the company, valued at approximately $810,324.12. The disclosure for this sale can be found here. Insiders have sold a total of 20,918 shares of company stock worth $3,888,203 over the last three months. Corporate insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NSIT. Janney Montgomery Scott LLC bought a new position in shares of Insight Enterprises in the first quarter worth about $431,000. BNP Paribas Financial Markets grew its holdings in Insight Enterprises by 22.9% in the 1st quarter. BNP Paribas Financial Markets now owns 37,925 shares of the software maker’s stock valued at $7,036,000 after buying an additional 7,067 shares during the last quarter. Van ECK Associates Corp increased its position in Insight Enterprises by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 11,658 shares of the software maker’s stock worth $2,163,000 after buying an additional 3,118 shares during the period. Verdence Capital Advisors LLC acquired a new position in shares of Insight Enterprises during the first quarter worth approximately $210,000. Finally, Shaker Investments LLC OH bought a new stake in shares of Insight Enterprises in the first quarter valued at approximately $547,000.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.