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

Insight Enterprises (NASDAQ:NSITGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The firm currently has a $106.00 price target on the software maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.61% from the company’s previous close.

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. “

Separately, StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th.

Shares of NSIT stock opened at $97.60 on Friday. The stock has a market cap of $3.42 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. The business has a 50-day simple moving average of $101.71 and a 200-day simple moving average of $101.56. The company has a quick ratio of 1.26, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. Insight Enterprises has a 52-week low of $88.28 and a 52-week high of $111.02.

Insight Enterprises (NASDAQ:NSITGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Insight Enterprises had a return on equity of 18.24% and a net margin of 2.35%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. Sell-side analysts anticipate that Insight Enterprises will post 8.07 earnings per share for the current fiscal year.

In related news, insider Samuel C. Cowley sold 5,343 shares of Insight Enterprises stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $100.68, for a total value of $537,933.24. Following the completion of the transaction, the insider now owns 25,000 shares in the company, valued at approximately $2,517,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Glynis Bryan sold 5,000 shares of Insight Enterprises stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $103.75, for a total value of $518,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 307,985 shares of company stock valued at $30,350,303. 1.61% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Capital World Investors increased its stake in Insight Enterprises by 19.4% during the 1st quarter. Capital World Investors now owns 487,525 shares of the software maker’s stock worth $52,321,000 after buying an additional 79,315 shares in the last quarter. Capital Research Global Investors increased its stake in Insight Enterprises by 173.7% during the 1st quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock worth $80,790,000 after buying an additional 477,800 shares in the last quarter. Jane Street Group LLC purchased a new stake in Insight Enterprises during the 1st quarter worth approximately $580,000. Lido Advisors LLC purchased a new stake in Insight Enterprises during the 1st quarter worth approximately $379,000. Finally, Point72 Hong Kong Ltd increased its stake in Insight Enterprises by 131.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,796 shares of the software maker’s stock worth $193,000 after buying an additional 1,020 shares in the last quarter.

About Insight Enterprises (Get Rating)

IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.

Featured Stories

Get a free copy of the Zacks research report on Insight Enterprises (NSIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.