Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) have been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.00.
A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, February 20th. BidaskClub cut Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. B. Riley reiterated a “buy” rating and set a $53.00 price target (down from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. Finally, ValuEngine cut Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.
Several institutional investors have recently made changes to their positions in NSIT. Rhumbline Advisers increased its position in Insight Enterprises by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 75,784 shares of the software maker’s stock valued at $3,480,000 after acquiring an additional 1,323 shares during the period. Legal & General Group Plc increased its position in Insight Enterprises by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 104,990 shares of the software maker’s stock valued at $4,819,000 after acquiring an additional 1,342 shares during the period. American International Group Inc. increased its position in Insight Enterprises by 5.8% in the 3rd quarter. American International Group Inc. now owns 28,233 shares of the software maker’s stock valued at $1,296,000 after acquiring an additional 1,537 shares during the period. Bank of New York Mellon Corp increased its position in Insight Enterprises by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 592,580 shares of the software maker’s stock valued at $22,690,000 after acquiring an additional 1,799 shares during the period. Finally, Alpha Windward LLC increased its position in Insight Enterprises by 16.1% in the 4th quarter. Alpha Windward LLC now owns 13,860 shares of the software maker’s stock valued at $531,000 after acquiring an additional 1,920 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Wednesday, February 14th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Insight Enterprises had a return on equity of 14.73% and a net margin of 1.35%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. analysts anticipate that Insight Enterprises will post 3.96 earnings per share for the current fiscal year.
Insight Enterprises announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
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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