Insight Enterprises (NASDAQ:NSIT) Earns Hold Rating from Analysts at StockNews.com

Posted by Bob Marten on Mar 19th, 2023

StockNews.com assumed coverage on shares of Insight Enterprises (NASDAQ:NSIT – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the software maker’s stock.

Several other research firms also recently commented on NSIT. Sidoti reaffirmed a neutral rating and issued a $127.00 target price on shares of Insight Enterprises in a research report on Monday, February 6th. Barrington Research upped their target price on Insight Enterprises from $125.00 to $150.00 and gave the company an outperform rating in a research report on Friday, February 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $131.25.

Insight Enterprises Price Performance

NASDAQ:NSIT opened at $138.01 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $122.96 and its two-hundred day moving average price is $103.75. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.16 and a beta of 1.56. Insight Enterprises has a 12-month low of $81.11 and a 12-month high of $139.78.

Insight Enterprises (NASDAQ:NSIT – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The software maker reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.40. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.61 billion. Insight Enterprises had a return on equity of 19.98% and a net margin of 2.69%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 earnings per share. On average, analysts anticipate that Insight Enterprises will post 10 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Holdings L.P. Valueact purchased 38,237 shares of Insight Enterprises stock in a transaction that occurred on Thursday, February 16th. The shares were acquired at an average price of $128.62 per share, with a total value of $4,918,042.94. Following the completion of the transaction, the director now directly owns 4,507,306 shares of the company’s stock, valued at approximately $579,729,697.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 60,663 shares of company stock valued at $7,759,175 over the last 90 days. 1.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insight Enterprises

A number of large investors have recently added to or reduced their stakes in NSIT. Ellevest Inc. grew its position in Insight Enterprises by 2,441.7% during the third quarter. Ellevest Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 293 shares in the last quarter. Ronald Blue Trust Inc. grew its position in Insight Enterprises by 179.3% during the third quarter. Ronald Blue Trust Inc. now owns 310 shares of the software maker’s stock worth $27,000 after buying an additional 199 shares in the last quarter. Federated Hermes Inc. grew its position in Insight Enterprises by 40.2% during the third quarter. Federated Hermes Inc. now owns 366 shares of the software maker’s stock worth $30,000 after buying an additional 105 shares in the last quarter. My Personal CFO LLC acquired a new stake in Insight Enterprises during the fourth quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC grew its position in Insight Enterprises by 262.7% during the third quarter. Quadrant Capital Group LLC now owns 856 shares of the software maker’s stock worth $71,000 after buying an additional 620 shares in the last quarter.

Insight Enterprises Company Profile

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Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America, Europe, the Middle East, Africa, and Asia-Pacific.