Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $46.00.
Several research firms recently weighed in on NSIT. Zacks Investment Research upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, February 20th. BidaskClub upgraded shares of Insight Enterprises from a “strong sell” rating to a “sell” rating in a research note on Friday, February 16th. B. Riley reiterated a “buy” rating and set a $53.00 price objective (down previously from $56.00) on shares of Insight Enterprises in a research note on Tuesday, February 13th. Finally, ValuEngine lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $156,000. CIBC Asset Management Inc acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $205,000. Eqis Capital Management Inc. acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $211,000. Amalgamated Bank acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $223,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Insight Enterprises in the third quarter valued at approximately $333,000. Institutional investors own 94.90% of the company’s stock.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, February 14th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.71 billion. Insight Enterprises had a net margin of 1.35% and a return on equity of 14.73%. Insight Enterprises’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. equities analysts anticipate that Insight Enterprises will post 3.96 EPS for the current year.
Insight Enterprises announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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About Insight Enterprises
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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