JPMorgan Chase & Co. Increases Insight Enterprises (NASDAQ:NSIT) Price Target to $195.00

Insight Enterprises (NASDAQ:NSIT) had its target price increased by JPMorgan Chase & Co. from $193.00 to $195.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

Several other equities analysts have also issued reports on the company. Barrington Research reaffirmed an outperform rating and set a $211.00 price target on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Stifel Nicolaus raised their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the company a hold rating in a research note on Monday, April 15th. Finally, StockNews.com downgraded shares of Insight Enterprises from a buy rating to a hold rating in a research note on Friday, January 26th.

Insight Enterprises Price Performance

Insight Enterprises stock traded up $6.18 during mid-day trading on Friday, hitting $199.92. 242,846 shares of the company were exchanged, compared to its average volume of 246,181. The company has a market capitalization of $6.51 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.50. The business has a fifty day moving average of $184.54 and a 200 day moving average of $174.69. Insight Enterprises has a 1-year low of $122.33 and a 1-year high of $201.86. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 0.31.

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

Insider Transactions at Insight Enterprises

In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the transaction, the insider now owns 23,009 shares of the company’s stock, valued at approximately $4,316,948.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the sale, the director now directly owns 30,647 shares in the company, valued at $5,680,114.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the sale, the insider now directly owns 23,009 shares of the company’s stock, valued at approximately $4,316,948.58. The disclosure for this sale can be found here. Insiders sold a total of 20,918 shares of company stock worth $3,888,203 in the last three months. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in shares of Insight Enterprises during the 4th quarter worth approximately $40,000. SRS Capital Advisors Inc. acquired a new stake in shares of Insight Enterprises in the 4th quarter valued at $46,000. Signaturefd LLC increased 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 valued at $69,000 after purchasing an additional 83 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of Insight Enterprises during the 4th quarter worth $89,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Insight Enterprises during the 4th quarter worth $94,000.

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.