Insight Enterprises (NASDAQ:NSIT) upgrade at Zacks Investment Research

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Insight Enterprises (NASDAQ:NSIT – Get an Assessment) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a 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 point to a potential upside of 15.21% from the company’s previous close.

According to Zacks, “Insight Enterprises Inc. is a global direct distributor of branded 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 markets 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 an extensive range of hardware and software The company’s sales force, dynamic marketing strategies and streamlined distribution, along with its advanced proprietary information system, have resulted in strong customer loyalty and strong, profitable growth. “

Separately, StockNews.com began covering Insight Enterprises in a research report on Thursday, March 31. They set a “buy” rating for the company.

NASDAQ:NSIT shares opened at $98.95 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.41 and a leverage ratio of 0.24. The company has a market capitalization of $3.47 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.06 and a beta of 1.64. Insight Enterprises has a 12 month minimum of $88.28 and a 12 month maximum of $111.02. The company’s 50-day moving average price is $103.56 and its two-hundred-day moving average price is $101.61.

Insight Enterprises (NASDAQ:NSIT – Get Rating) last announced its results on Thursday, May 5. The software maker reported earnings per share (EPS) of $1.81 for the quarter, beating analyst consensus estimates of $1.60 by $0.21. The company posted revenue of $2.65 billion for the quarter, versus analyst estimates of $2.41 billion. Insight Enterprises had a net margin of 2.35% and a return on equity of 18.24%. Insight Enterprises quarterly revenue increased 20.9% year over year. In the same period a year earlier, the company had earned earnings per share of $1.30. As a group, stock analysts predict Insight Enterprises will post earnings per share of 8.07 for the current fiscal year.

In other news, Director Holdings LP Valueact purchased 49,102 shares of Insight Enterprises in a trade dated Monday, February 28. The shares were purchased at an average cost of $103.66 per share, with a total value of $5,089,913.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, CFO Glynis Bryan sold 5,000 shares of the company in a transaction on Monday, February 28. The shares were 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. Over the past ninety days, insiders have purchased 180,052 shares of the company worth $18,089,339. Insiders own 1.61% of the shares of the company.

Hedge funds have recently been buying and selling shares of the company. ValueAct Holdings LP increased its holdings of Insight Enterprises shares by 16.9% in the third quarter. ValueAct Holdings LP now owns 3,324,835 shares of the software maker worth $299,501,000 after acquiring an additional 481,145 shares last quarter. Geode Capital Management LLC increased its stake in Insight Enterprises by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 620,035 shares of the software maker worth $66,095,000 after buying an additional 6,802 shares last quarter. Invesco Ltd. increased its holdings in Insight Enterprises by 6.7% during the 4th quarter. Invesco Ltd. now owns 451,209 shares of the software maker worth $48,099,000 after purchasing an additional 28,428 shares during the period. Capital World Investors increased its stake in Insight Enterprises by 32.9% in the fourth quarter. Capital World Investors now owns 408,210 shares of the software maker valued at $43,515,000 after buying an additional 101,150 shares last quarter. Finally, Atlanta Capital Management Co. LLC increased its holdings of Insight Enterprises shares by 22.8% in the fourth quarter. Atlanta Capital Management Co. LLC now owns 343,567 shares of the software maker valued at $36,624,000 after purchasing an additional 63,776 shares during the period.

Insight Enterprises Company Profile (Get an evaluation)

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.

See also

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