Zacks Investment Research Upgrades Insight Enterprises, Inc. (NSIT) to “Buy”
Insight Enterprises, Inc. (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $40.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 8.49% from the stock’s previous close.
According to Zacks, “Insight is a global direct marketer of brand name computers, hardware and software. 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, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Insight Enterprises in a report on Thursday.
Insight Enterprises (NASDAQ:NSIT) opened at 36.87 on Friday. The company’s 50-day moving average price is $38.00 and its 200-day moving average price is $31.81. The company has a market capitalization of $1.31 billion, a P/E ratio of 16.55 and a beta of 2.01. Insight Enterprises has a 52 week low of $18.26 and a 52 week high of $41.81.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.09. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Insight Enterprises had a return on equity of 12.59% and a net margin of 1.52%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, equities analysts forecast that Insight Enterprises will post $2.48 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in NSIT. Vanguard Group Inc. raised its stake in Insight Enterprises by 2.4% in the second quarter. Vanguard Group Inc. now owns 2,987,608 shares of the company’s stock worth $77,677,000 after buying an additional 68,622 shares during the period. BlackRock Fund Advisors raised its stake in Insight Enterprises by 6.0% in the third quarter. BlackRock Fund Advisors now owns 2,528,265 shares of the company’s stock worth $82,295,000 after buying an additional 142,528 shares during the period. Northern Trust Corp raised its stake in Insight Enterprises by 0.4% in the third quarter. Northern Trust Corp now owns 1,492,118 shares of the company’s stock worth $48,569,000 after buying an additional 5,385 shares during the period. JPMorgan Chase & Co. raised its stake in Insight Enterprises by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 1,461,546 shares of the company’s stock worth $47,574,000 after buying an additional 22,374 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Insight Enterprises by 32.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,234,545 shares of the company’s stock worth $40,184,000 after buying an additional 301,247 shares during the period. 96.82% of the stock is currently owned by hedge funds and other institutional investors.
About Insight Enterprises
Insight Enterprises, Inc is a provider of hardware, software, Cloud and service solutions to business, government, healthcare and educational clients. The Company consults, designs, implements and manages integrated information technology (IT) solutions for its clients. These solutions include services and products designed to support networking, collaboration, storage, security, Cloud, mobility, converged infrastructure and other advanced technologies.
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