Insight Enterprises (NASDAQ:NSIT) High to “Buy” Zacks Investment Research
Insight Enterprises (NASDAQ: NSIT – Get an Assessment) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Tuesday to investors, Zacks.com reports. The company currently has a price target of $114.00 on the software maker’s stock. Zacks Investment Research’s price target would suggest a potential upside of 15.21% from the company’s current price.
According to Zacks, “Insight Enterprises Inc. is a worldwide direct distributor of brand name computers, hardware and software. It is a publicly traded global technology company based in Arizona that focuses on business-to-business capabilities and information technology. The company caters to small and medium-sized businesses, through a combination of a strong outbound telemarketing, e-commerce, e-marketing and direct mail catalog sales force. The company offers a wide range of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, along with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “
Separately, StockNews.com began covering Insight Enterprises stocks in a research note on Thursday, March 31. They issued a “buy” rating for the company.
Insight Enterprises shares opened at $98.95 on Tuesday. The company has a market capitalization of $3.47 billion, a price/earnings ratio of 15.68, a P/E/G ratio of 1.06 and a beta of 1.64. The company has a 50-day moving average of $103.56 and a 200-day moving average of $101.61. The company has a debt ratio of 0.24, a current ratio of 1.41 and a quick ratio of 1.29. Insight Enterprises has a one-year minimum of $88.28 and a one-year maximum of $111.02.
Insight Enterprises (NASDAQ:NSIT – Get Rating) last released its quarterly results on Thursday, May 5. The software maker reported EPS of $1.81 for the quarter, beating the consensus estimate of $1.60 by $0.21. The company posted revenue of $2.65 billion in the quarter, compared to $2.41 billion expected by analysts. Insight Enterprises had a return on equity of 18.24% and a net margin of 2.35%. The company’s quarterly revenue increased by 20.9% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $1.30. As a group, sell-side analysts expect Insight Enterprises to post earnings per share of 8.07 for the current year.
In related news, Director Holdings LP Valueact acquired 49,102 shares of the company in a transaction on Monday, February 28. The shares were purchased at an average cost of $103.66 per share, for a total transaction of $5,089,913.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Chief Financial Officer Glynis Bryan sold 5,000 shares of the company in a transaction dated Monday, February 28. The stock was sold at an average price of $103.75, for a total transaction of $518,750.00. The disclosure of this sale can be found here. Insiders bought 180,052 shares of the company valued at $18,089,339 during the last quarter. 1.61% of the shares are currently held by company insiders.
Institutional investors have recently been buying and selling shares of the company. Lazard Asset Management LLC acquired a new stake in Insight Enterprises during Q4 valued at approximately $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Insight Enterprises during the fourth quarter at a value of $31,000. Prospera Financial Services Inc bought a new stake in shares of Insight Enterprises in the first quarter worth approximately $38,000. US Bancorp DE increased its stake in Insight Enterprises shares by 112.5% in the third quarter. US Bancorp DE now owns 442 shares of the software maker valued at $40,000 after acquiring 234 additional shares last quarter. Finally, Cassady Schiller Wealth Management LLC bought a new position in Insight Enterprises during the fourth quarter worth approximately $53,000.
About Insight Enterprises (Get a 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 Asia-Pacific . The company’s solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge and IoT solutions, and transformation services.
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