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

Insight Enterprises, Inc. (NASDAQ:NSIT) shares hit 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 trading hands. The stock had previously closed at $193.74.

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

Insider Activity at Insight Enterprises

In other news, Director Kathleen S. Pushor sold 1,790 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $185.12, for a total transaction of $331,364.80. Following the sale, the director now directly owns 5,800 shares in the company, valued at approximately $1,073,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kathleen S. Pushor sold 1,790 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the completion of the sale, the director now owns 5,800 shares of the company’s stock, valued at approximately $1,073,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief accounting officer now directly owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The disclosure for this sale can be found here. Insiders sold 20,918 shares of company stock valued at $3,888,203 over the last 90 days. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Insight Enterprises in the 4th quarter valued at approximately $40,000. SRS Capital Advisors Inc. acquired a new stake in shares of Insight Enterprises in the 4th quarter worth $46,000. Signaturefd LLC lifted its stake in shares of Insight Enterprises by 26.9% in the 4th quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock worth $69,000 after acquiring an additional 83 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Insight Enterprises in the 4th quarter worth $89,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Insight Enterprises in the 4th quarter worth $94,000.

Insight Enterprises Price Performance

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

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that Insight Enterprises, Inc. will post 10.68 earnings per share 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.