Insight Enterprises (NASDAQ:NSIT) Rating Increased to Buy at Zacks Investment Research

Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 9th. The brokerage presently has a $43.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.37% from the company’s previous close.

According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “

Several other analysts also recently commented on NSIT. B. Riley restated a “buy” rating and set a $56.00 price objective (up from $54.50) on shares of Insight Enterprises in a research report on Wednesday, November 8th. ValuEngine downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, BidaskClub downgraded shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Insight Enterprises currently has an average rating of “Hold” and a consensus price target of $48.00.

Shares of Insight Enterprises (NASDAQ NSIT) opened at $38.61 on Tuesday. Insight Enterprises has a fifty-two week low of $35.26 and a fifty-two week high of $53.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.84 and a quick ratio of 1.59. The stock has a market cap of $1,381.94, a P/E ratio of 14.30 and a beta of 1.56.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Tuesday, November 7th. The software maker reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Insight Enterprises had a net margin of 1.53% and a return on equity of 14.90%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. analysts expect that Insight Enterprises will post 3.22 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in Insight Enterprises by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after acquiring an additional 385 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Insight Enterprises in the 3rd quarter valued at $156,000. CIBC Asset Management Inc bought a new stake in Insight Enterprises in the 3rd quarter valued at $205,000. Eqis Capital Management Inc. bought a new stake in Insight Enterprises in the 3rd quarter valued at $211,000. Finally, Amalgamated Bank bought a new stake in Insight Enterprises in the 3rd quarter valued at $223,000. Institutional investors own 97.19% of the company’s stock.

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Insight Enterprises Company Profile

Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.

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