Insight Enterprises (NASDAQ:NSIT) Hits New 52-Week High at $224.49

Insight Enterprises, Inc. (NASDAQ:NSIT)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $224.49 and last traded at $224.12, with a volume of 54877 shares trading hands. The stock had previously closed at $216.81.

Wall Street Analysts Forecast Growth

NSIT has been the topic of several research analyst reports. Barrington Research raised their price objective on Insight Enterprises from $211.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Stifel Nicolaus upped their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd.

Insight Enterprises Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49. The stock has a 50 day moving average price of $202.77 and a 200-day moving average price of $191.72.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.55. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 EPS. On average, analysts forecast 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 business’s stock in a transaction 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 transaction, the chief executive officer now owns 40,807 shares of the company’s stock, valued at $8,205,471.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Insight Enterprises news, insider Adrian P. Gregory sold 2,750 shares of the stock in a transaction dated 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 transaction, the insider now owns 3,447 shares of the company’s stock, valued at $675,026.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joyce A. Mullen sold 10,000 shares of the business’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 transaction of $2,010,800.00. Following the completion of the sale, the chief executive officer now directly owns 40,807 shares in the company, valued at $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 Investors Weigh In On Insight Enterprises

Institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the second quarter worth about $38,000. GAMMA Investing LLC purchased a new stake in Insight Enterprises during the 4th quarter worth approximately $40,000. SRS Capital Advisors Inc. acquired a new stake in Insight Enterprises during the 4th quarter worth approximately $46,000. Signaturefd LLC boosted its position in Insight Enterprises by 26.9% in the 4th quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock valued at $69,000 after buying an additional 83 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Insight Enterprises in the first quarter worth $89,000.

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.