Insight Enterprises (NASDAQ:NSIT) Hits New 12-Month High Following Analyst Upgrade

Insight Enterprises, Inc. (NASDAQ:NSIT)’s stock price reached a new 52-week high during mid-day trading on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock 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 equities research analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Stifel Nicolaus raised their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Barrington Research restated an “outperform” rating and issued a $211.00 price target on shares of Insight Enterprises in a report on Tuesday, April 23rd.

Insider Activity at Insight Enterprises

In related news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total transaction of $337,939.50. Following the completion of the sale, the chief accounting officer now owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Insight Enterprises news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the transaction, the chief accounting officer now directly owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $187.62, for a total value of $1,365,498.36. Following the transaction, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,918 shares of company stock worth $3,888,203. 1.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Insight Enterprises by 249.8% during the first quarter. SG Americas Securities LLC now owns 6,544 shares of the software maker’s stock worth $1,214,000 after purchasing an additional 4,673 shares during the period. Texas Permanent School Fund Corp boosted its stake in Insight Enterprises by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 24,234 shares of the software maker’s stock valued at $4,496,000 after acquiring an additional 314 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Insight Enterprises during the first quarter valued at approximately $431,000. BNP Paribas Financial Markets raised its position in shares of Insight Enterprises by 22.9% during the 1st quarter. BNP Paribas Financial Markets now owns 37,925 shares of the software maker’s stock worth $7,036,000 after purchasing an additional 7,067 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Insight Enterprises by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 11,658 shares of the software maker’s stock worth $2,163,000 after purchasing an additional 3,118 shares during the last quarter.

Insight Enterprises Price Performance

The company has a market capitalization of $6.52 billion, a P/E ratio of 25.17, a PEG ratio of 1.40 and a beta of 1.50. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. The business has a 50 day simple moving average of $185.19 and a 200-day simple moving average of $175.47.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm posted $1.78 EPS. Insight Enterprises’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts predict that Insight Enterprises, Inc. will post 10.68 EPS for the current fiscal year.

Insight Enterprises Company Profile

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.