Insight Enterprises (NASDAQ:NSIT) Hits New 1-Year High Following Analyst Upgrade

Insight Enterprises, Inc. (NASDAQ:NSIT)’s share price hit a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $197.11 and last traded at $196.17, with a volume of 12147 shares traded. The stock had previously closed at $193.74.

A number of other analysts have also commented on the company. Stifel Nicolaus boosted their price objective on Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Barrington Research restated an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday.

Insider Transactions at Insight Enterprises

In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total value of $1,853,400.00. Following the completion of the transaction, the director now owns 30,647 shares of the company’s stock, valued at approximately $5,680,114.98. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the transaction, the director now directly owns 30,647 shares of the company’s stock, valued at $5,680,114.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the transaction, the director now owns 5,800 shares in the company, valued at approximately $1,073,696. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,918 shares of company stock valued at $3,888,203. 1.23% of the stock is currently owned by company insiders.

Institutional Trading of Insight Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Insight Enterprises by 6.4% during the third quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after acquiring an additional 245,814 shares during the last quarter. Capital World Investors lifted its holdings in Insight Enterprises by 3.5% in the 4th quarter. Capital World Investors now owns 1,682,004 shares of the software maker’s stock worth $298,034,000 after buying an additional 56,715 shares during the period. Fiduciary Management Inc. WI grew its position in shares of Insight Enterprises by 2.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 791,752 shares of the software maker’s stock worth $140,291,000 after buying an additional 21,501 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Insight Enterprises by 53.1% during the fourth quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock valued at $126,194,000 after buying an additional 247,049 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Insight Enterprises by 3.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock valued at $112,577,000 after acquiring an additional 23,085 shares in the last quarter.

Insight Enterprises Price Performance

The company has a market cap of $6.39 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.50. The business has a 50 day moving average of $184.54 and a 200 day moving average of $174.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Thursday, May 2nd. The software maker reported $2.37 EPS for the quarter, topping the consensus estimate of $1.82 by $0.55. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the company posted $1.78 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Insight Enterprises, Inc. will post 10.68 EPS for the current year.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.