Zacks Investment Research Upgrades Insight Enterprises (NSIT) to Buy
Zacks Investment Research upgraded shares of Insight Enterprises (NASDAQ:NSIT) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $43.00 price objective on the software maker’s stock.
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. “
NSIT has been the topic of several other reports. BidaskClub cut Insight Enterprises from a sell rating to a strong sell rating in a research report on Tuesday, December 12th. ValuEngine cut Insight Enterprises from a buy rating to a hold rating in a research report on Wednesday, November 15th. Finally, B. Riley reiterated a buy rating and set a $56.00 price target (up from $54.50) on shares of Insight Enterprises in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $48.00.
Shares of Insight Enterprises (NASDAQ:NSIT) traded up $0.72 during trading on Tuesday, reaching $38.61. The company had a trading volume of 200,625 shares, compared to its average volume of 223,742. Insight Enterprises has a fifty-two week low of $35.26 and a fifty-two week high of $53.19. The company has a market cap of $1,380.00, a PE ratio of 14.30 and a beta of 1.56. The company has a quick ratio of 1.59, a current ratio of 1.84 and a debt-to-equity ratio of 0.65.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. Insight Enterprises had a return on equity of 14.90% and a net margin of 1.53%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. research analysts predict that Insight Enterprises will post 3.22 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in NSIT. Thrivent Financial For Lutherans increased its position in shares of Insight Enterprises by 1,112.8% during the second quarter. Thrivent Financial For Lutherans now owns 441,152 shares of the software maker’s stock valued at $17,642,000 after buying an additional 404,777 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in shares of Insight Enterprises by 29.9% during the third quarter. Paradigm Capital Management Inc. NY now owns 625,382 shares of the software maker’s stock worth $28,718,000 after purchasing an additional 143,868 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Insight Enterprises by 3.2% during the second quarter. BlackRock Inc. now owns 4,667,177 shares of the software maker’s stock worth $186,642,000 after purchasing an additional 143,348 shares in the last quarter. Boston Partners grew its holdings in shares of Insight Enterprises by 16.7% during the third quarter. Boston Partners now owns 742,079 shares of the software maker’s stock worth $34,077,000 after purchasing an additional 106,207 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Insight Enterprises by 10.2% during the second quarter. JPMorgan Chase & Co. now owns 1,052,433 shares of the software maker’s stock worth $42,087,000 after purchasing an additional 97,342 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
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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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