Insight Enterprises (NASDAQ:NSIT) Sets New 1-Year High at $224.49

Insight Enterprises, Inc. (NASDAQ:NSIT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $224.49 and last traded at $224.12, with a volume of 54877 shares changing hands. The stock had previously closed at $216.81.

Analysts Set New Price Targets

Several research firms recently issued reports on NSIT. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Stifel Nicolaus upped their target price on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Barrington Research increased their price target on Insight Enterprises from $211.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th.

Insight Enterprises Price Performance

The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.72 and a beta of 1.49. The stock has a 50-day moving average price of $203.25 and a 200 day moving average price of $192.24. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. Insight Enterprises’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS. As a group, equities research analysts expect that Insight Enterprises, Inc. will post 10.78 earnings per share for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, CEO Joyce A. Mullen sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $201.08, for a total value of $2,010,800.00. Following the transaction, the chief executive officer now directly owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Adrian P. Gregory sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $195.83, for a total transaction of $538,532.50. Following the completion of the sale, the insider now owns 3,447 shares in the company, valued at approximately $675,026.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joyce A. Mullen sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the sale, the chief executive officer now owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The disclosure for this sale can be found here. Insiders have sold 462,750 shares of company stock valued at $89,169,833 in the last ninety days. 1.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Insight Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors increased its holdings in Insight Enterprises by 27.8% in the 1st quarter. Capital World Investors now owns 2,149,092 shares of the software maker’s stock valued at $398,700,000 after purchasing an additional 467,088 shares during the last quarter. Norges Bank acquired a new stake in Insight Enterprises in the 4th quarter valued at approximately $58,687,000. Capital Research Global Investors increased its holdings in Insight Enterprises by 54.9% in the 1st quarter. Capital Research Global Investors now owns 907,709 shares of the software maker’s stock valued at $168,398,000 after purchasing an additional 321,780 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Insight Enterprises in the 4th quarter valued at approximately $56,128,000. Finally, Capital International Investors acquired a new stake in Insight Enterprises in the 1st quarter valued at approximately $33,765,000.

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.