Insight Enterprises, Inc. (NASDAQ:NSIT) Earns Hold Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their hold rating on shares of Insight Enterprises, Inc. (NASDAQ:NSIT) in a report released on Thursday. Stifel Nicolaus currently has a $45.00 target price on the software maker’s stock, up from their previous target price of $42.00.
NSIT has been the topic of a number of other reports. B. Riley reiterated a neutral rating and issued a $44.00 price objective on shares of Insight Enterprises in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded Insight Enterprises from a sell rating to a hold rating in a research note on Wednesday, April 5th. Raymond James Financial, Inc. reiterated an underperform rating on shares of Insight Enterprises in a research note on Thursday, May 4th. Finally, BidaskClub lowered Insight Enterprises from a buy rating to a hold rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $48.33.
Shares of Insight Enterprises (NASDAQ:NSIT) traded down 4.09% during midday trading on Thursday, reaching $44.29. The company’s stock had a trading volume of 198,621 shares. The stock’s 50-day moving average is $41.16 and its 200 day moving average is $41.60. The stock has a market capitalization of $1.58 billion, a P/E ratio of 16.45 and a beta of 1.63. Insight Enterprises has a 12 month low of $24.23 and a 12 month high of $53.19.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, analysts expect that Insight Enterprises will post $3.18 earnings per share for the current fiscal year.
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In related news, CFO Glynis Bryan sold 3,946 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $42.00, for a total transaction of $165,732.00. Following the transaction, the chief financial officer now directly owns 39,643 shares in the company, valued at $1,665,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.23% of the company’s stock.
A number of institutional investors have recently modified their holdings of NSIT. Ameritas Investment Partners Inc. purchased a new position in shares of Insight Enterprises during the first quarter valued at about $123,000. State of Alaska Department of Revenue raised its position in shares of Insight Enterprises by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,920 shares of the software maker’s stock valued at $161,000 after buying an additional 80 shares in the last quarter. Invictus RG purchased a new position in shares of Insight Enterprises during the first quarter valued at about $199,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Insight Enterprises during the first quarter valued at about $311,000. Finally, Capital One National Association purchased a new position in shares of Insight Enterprises during the second quarter valued at about $332,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
About Insight Enterprises
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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