Redburn Atlantic Begins Coverage on Insight Enterprises (NASDAQ:NSIT)

Redburn Atlantic began coverage on shares of Insight Enterprises (NASDAQ:NSIT) in a research note issued to investors on Friday, MarketBeat reports. The firm issued a buy rating and a $220.00 price target on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barrington Research reduced their target price on Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $212.50.

Insight Enterprises Price Performance

Shares of NSIT stock opened at $150.00 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.32 and a beta of 1.48. The business’s fifty day moving average is $201.83 and its 200 day moving average is $202.73. Insight Enterprises has a twelve month low of $147.28 and a twelve month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the business earned $2.37 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. Research analysts expect that Insight Enterprises will post 9.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Insight Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its holdings in shares of Insight Enterprises by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,251 shares of the software maker’s stock worth $5,050,000 after purchasing an additional 3,956 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Insight Enterprises by 288.2% in the second quarter. Harbor Capital Advisors Inc. now owns 14,289 shares of the software maker’s stock worth $2,834,000 after buying an additional 10,608 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Insight Enterprises in the 2nd quarter valued at $682,000. Silver Lake Advisory LLC purchased a new stake in Insight Enterprises during the second quarter worth $6,343,000. Finally, Capital International Investors acquired a new position in shares of Insight Enterprises during the 1st quarter worth 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.